Canadian Natural Resources saw a positive improvement to its Relative Strength (RS) Rating on Friday, rising from 70 to 73.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks compares to other publicly traded companies.
History reveals that the best stocks tend to have an RS Rating of at least 80 in the early stages of their moves. See if Canadian Natural Res can continue to show renewed price strength and hit that benchmark.
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Canadian Natural Resources is trying to complete a consolidation with a 70.70 entry. It still has some work to do to get there. On the more positive side, it has cleared key moving averages, having bounced of the 10-day twice this week. Keep in mind that it's a later-stage consolidation, and those are riskier than earlier-stage patterns.
Earnings News
Canadian Natural Resources posted 75% earnings growth in the latest quarterly report. Sales gains came in at 36%. The next report is not until very early March.
The company holds the No. 3 rank among its peers in the Oil & Gas-Canadian Exploration & Production industry group. Vermilion Energy is also among the group's highest-rated stocks.
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