One important metric to look for in a stock is an 80 or higher Relative Strength Rating. CNX Resources now clears that threshold, with a jump from 77 to 81 Thursday.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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CNX Resources is now considered extended and out of buy range after clearing a 26.57 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
CNX Resources reported negative growth for both the top and bottom lines last quarter. CNX Resources is expected to release its next quarterly numbers on or around Apr. 24.
The company holds the No. 10 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources, Gulfport Energy and Range Resources are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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