On Thursday, Matador Resources stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 78 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating north of 80 as they launch their biggest climbs.
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Is Matador Resources Stock A Buy?
Matador Resources stock has consolidating, retaking its 200-day moving average the past month. While the oil & gas exploration stock is not near a proper entry right now, see if it goes on to form and break out from a proper chart pattern.
The company reported negative growth for both sales and earnings last quarter.
Matador Resources stock holds the No. 7 rank among its peers in the Oil & Gas-U.S. Exploration & Production industry group. Northern Oil & Gas and Permian Resources are also among the group's highest-rated stocks.
