On Tuesday, Cactus stock received a positive adjustment to its Relative Strength (RS) Rating, from 68 to 78.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks tend to have an RS Rating north of 80 as they begin their largest runs. See if Cactus can continue to rebound and hit that benchmark.
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Is Cactus Stock A Buy?
Cactus stock has been struggling in recent weeks, dipping below its 200-day moving average, amid the stock market correction. While it's not currently an ideal time to invest, see if the stock goes on to form a base and break out. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The oil & gas equipment provider showed 173% earnings growth in its most recent report, while sales growth came in at 73%. The next quarterly results are expected on or around Jul. 28.
Cactus stock earns the No. 4 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Cactus and Baker Hughes Co Cl A are also among the group's highest-rated stocks.
