One important metric to look for in a stock is an 80 or higher Relative Strength Rating. New Fortress Energy cleared that benchmark Thursday, with a jump from 80 to 86 Thursday.
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 other stocks on the major indexes.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 as they begin their biggest runs.
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New Fortress Energy stock is trying to complete a cup without handle with a 36.35 entry. See if it can clear the breakout price in volume at least 40% higher than normal.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 7,100%. Revenue rose from 123% to 345%.
The company holds the No. 14 rank among its peers in the Oil & Gas-Integrated industry group. Chevron and EQT are also among the group's highest-rated stocks.
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