The Relative Strength (RS) Rating for Cactus climbed into a new percentile Friday, with a rise from 76 to 88.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the best-performing stocks typically have an RS Rating of over 80 as they begin their biggest climbs.
See How IBD Helps You Make More Money In Stocks
Is Cactus Stock A Buy?
Cactus stock has been trading below its 50- and 200-day moving averages and is not currently near a potential buy zone. See if the stock goes on to build a sound pattern that could ignite a new run. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth rose last quarter from 173% to 175%. But sales fell from 73% to 56%. Look for the next report on or around Nov. 3.
Cactus stock holds the No. 3 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Chart Industries and Cactus are also among the group's highest-rated stocks.
