On Monday, New Jersey Resources got an upgrade to its Relative Strength (RS) Rating, from 70 to 76.
This exclusive rating from Investor's Business Daily identifies share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 in the early stages of their moves. See if New Jersey Resources can continue to show renewed price strength and hit that benchmark.
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New Jersey Resources has risen more than 5% past a 47.65 entry in a first-stage double bottom, meaning it's now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings-per-share growth declined last quarter from 22% to 0%, but the top line rose from 2% to 4%. The next quarterly results are expected on or around Nov. 25.
The company earns the No. 5 rank among its peers in the Utility-Gas Distribution industry group. Atmos Energy is the top-ranked stock within the group.
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