The Relative Strength (RS) Rating for California Resources climbed into a higher percentile Tuesday, as it got a lift from 67 to 73.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks compares to the rest of the market.
History shows that the market's biggest winners typically have an 80 or higher RS Rating in the early stages of their moves. See if California Resources can continue to show renewed price strength and hit that benchmark.
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California Resources is trading within a buy zone after breaking past a 58.44 entry in a consolidation. Once a stock moves 5% or higher beyond the original entry, it's considered out of a proper buy zone.
In terms of top and bottom line numbers, California Resources has posted two quarters of rising earnings growth. Revenue growth has also increased during the same period.
The company earns the No. 3 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources is the No. 1-ranked stock within the group.
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