When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Weatherford Intl stock, which saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 90 to 93.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the top-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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Is Weatherford Intl Stock A Buy?
Weatherford Intl stock retook its 200-day moving average last week and staging a rally. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to form a consolidation and break out. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 91%, compared to 0% in the prior report. Revenue increased from 13% to 18%.
Weatherford Intl stock earns the No. 6 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Chart Industries, Now and Forum Energy Technology are among the top 5 highly rated stocks within the group.
