If you're looking for stocks that are setting up in a base ahead of earnings, here's one that fits the bill: Ecopetrol. It's expected to release its latest numbers around Mar. 2 and is trading approximately 3% under a 16.01 buy point. The base is a first-stage consolidation. The Columbia-based oil and gas stock has a 93 Relative Strength Rating. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Understand that buying a stock just ahead of earnings can be risky since you typically don't have enough time to establish a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.
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Earnings growth rose last quarter from 0% to 345%. But revenue gains fell from 131% to 90%.
Analysts expect earnings growth of 510% for the quarter, and 752% growth for the full year. Earnings-per-share estimates for the full year were recently revised higher.
Ecopetrol stock has a 99 Composite Rating and earns the No. 1 rank among its peers in the Oil & Gas-Integrated industry group. Ecopetrol and EQT are also among the group's highest-rated stocks. For more industry news, check out "Energy Stocks And Industry News: Oil, Gas, Solar, Coal."
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
