On Wednesday, Magnolia Oil & Gas got a positive adjustment to its Relative Strength (RS) Rating, from 69 to 75.
IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest price moves. See if Magnolia Oil & Gas can continue to rebound and hit that benchmark.
When To Sell Stocks To Lock In Profits And Minimize Losses
Magnolia Oil & Gas broke out earlier, but has fallen back below the prior 27.63 entry from a consolidation. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also understand that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
The company reported -2% EPS growth last quarter, while sales growth came in at 6%.
The company earns the No. 12 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources, Crescent Energy and Riley Exploration Permn are among the top 5 highly rated stocks within the group.
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