In a welcome move, Cenovus Energy stock saw its Relative Strength Rating improve from 69 to 73 on Wednesday.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an RS Rating north of 80 as they begin their largest price moves. See if Cenovus Energy stock can continue to show renewed price strength and clear that threshold.
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Is Cenovus Energy Stock A Buy?
Cenovus Energy stock is working on a cup without handle with a 21.37 buy point. See if it can clear the breakout price in volume at least 40% higher than normal. Note that it's a fourth-stage base. Such patterns do sometimes lead to significant gains, but, statistically, they're more likely to fail than first- or second-stage consolidations.
Earnings growth fell in the most recent report from 20% to 0%. But sales moved higher, from -17% to -7%. The company is expected to report its latest results on or around Apr. 24.
Cenovus Energy stock earns the No. 8 rank among its peers in the Oil & Gas-Integrated industry group. Antero Midstream, Williams Cos and Petroleo Brasileiro ADR A are among the top 5 highly rated stocks within the group.
