One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Gulfport Energy just hit that mark, with a jump from 78 to 83 Thursday.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Over 100 years of market history shows that the best stocks tend to have an RS Rating of above 80 in the early stages of their moves.
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Gulfport Energy has climbed more than 5% past a 165.19 entry in a second-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings growth dropped last quarter from 59% to 0%, but sales rose from -41% to -5%.
Gulfport Energy earns the No. 4 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources is the top-ranked stock within the group.
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