One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Core Laboratories cleared that benchmark Monday, with a jump from 66 to 88 Monday. Over 100 years of market history reveals that the market's biggest winners typically have an RS Rating north of 80 as they launch their biggest climbs.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
See How IBD Helps You Make More Money In Stocks
See If Core Laboratories Can Form A Base
While CLB stock is not near an ideal buy point right now, it is worth keeping an eye on to see if it manages to form and break out of a proper base.
Core Laboratories saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -33% to 0%. Revenue rose from 2% to 7%.
Core Laboratories is a leading provider of proprietary and patented reservoir description, production enhancement and reservoir management services
Core Laboratories earns the No. 25 rank among its peers in the Oil & Gas-Field Services industry group. Halliburton and RPC are also among the group's highest-rated stocks.
