On Tuesday, MPLX cleared a noteworthy performance benchmark, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an improvement to 88, a rise from 76 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the best stocks often have an RS Rating of over 80 in the early stages of their moves.
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MPLX is working on the right side a double bottom base with a 34.56 entry. See if the stock can clear the breakout price in volume at least 40% above average.
MPLX reported 15% EPS growth last quarter. Revenue rose 12%. The next quarterly results are expected on or around Aug. 4.
The company earns the No. 12 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Western Gas Equity Partners and DCP Midstream are also among the group's highest-rated stocks.
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