CNX Resources stock had its Relative Strength (RS) Rating upgraded from 78 to 85 Tuesday.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the market's biggest winners often have an RS Rating of at least 80 as they launch their biggest runs.
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Is CNX Resources Stock A Buy?
CNX Resources stock dipped below its 50- and 200-day moving averages in recent trading days, but it's holding up well in this depressed market conditions. This is not the time to buy stocks during a bear market, but build a watchlist of possible emerging leaders once the market trend turns around.
The energy company reported negative growth for both the top and bottom lines last quarter. CNX Resources is expected to report its next quarterly numbers on or around Apr. 24.
CNX Resources stock earns the No. 8 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.
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