On Friday, Kinetik Holdings cleared a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 92, up from 89 the day before.
IBD's proprietary RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the top-performing stocks typically have an RS Rating north of 80 as they begin their largest climbs.
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Kinetik Holdings is now considered extended and out of buy range after clearing a 45.27 buy point in a first-stage cup without handle. 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.
Earnings growth increased last quarter from 32% to 67%, but revenue fell from 21% to 20%.
The company holds the No. 8 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Oneok, Energy Svcs of America and DT Midstream are among the top 5 highly rated stocks within the group.
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