Texas Pacific Land stock had its Relative Strength (RS) Rating upgraded from 78 to 94 Tuesday. The energy stock will join the S&P Midcap 400 Index on June. 24.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against all other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 as they launch their largest price moves.
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Is Texas Pacific Land Stock A Buy?
Texas Pacific Land stock has climbed more than 5% past a 633.07 entry in a first-stage cup with handle, meaning it's extended and now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
In terms of revenue and profits, the company has posted rising EPS growth in each of the last two reports. Revenue gains have also risen during the same period.
Texas Pacific Land stock holds the No. 1 rank among its peers in the Oil & Gas-Royalty Trust industry group. Sabine Royalty Tr UBI and Permian Basin Royalty Tr are also among the group's highest-rated stocks.
