CNX Resources stock had its Relative Strength (RS) Rating upgraded from 68 to 73 Thursday -- a welcome improvement, but still shy of the 80 or better score you prefer to see.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating measures share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves. See if CNX Resources stock can continue to rebound and clear that threshold.
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Is CNX Resources Stock A Buy?
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a chart pattern and break out. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While earnings-per-share growth declined in the oil & gas company's most recently reported quarter from 429% to -30%, the top line grew 100%, up from 27% in the previous report.
CNX Resources stock earns the No. 8 rank among its peers in the Oil & Gas-U.S. Exploration & Production industry group. Earthstone Energy and California Resources are also among the group's highest-rated stocks.
