On Tuesday, Cheniere Energy hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 81, up from 76 the day before.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Cheniere Energy is now considered extended and out of buy range after clearing a 175.56 buy point in a first-stage saucer with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
While earnings-per-share growth fell in the company's most recent performance report from -32% to -44%, sales grew -10%, up from -21% in the prior report.
Cheniere Energy holds the No. 20 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Energy Svcs of America, Oneok and DT Midstream are among the top 5 highly rated stocks within the group.
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