One important metric to look for in a stock is an 80 or higher Relative Strength Rating. CVR Energy stock cleared that benchmark Wednesday, with a jump from 70 to 80 Wednesday.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best-performing stocks often have an 80 or higher RS Rating in the early stages of their moves.
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Is CVR Energy Stock A Buy?
CVR Energy stock is working on a consolidation with a 35.54 buy point. See if the energy stock can clear the breakout price in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Although earnings and sales growth came in at -1% and -7%, respectively, in the latest report, that showed improvement for both EPS and revenue. The oil & gas company is expected to release its next quarterly numbers on or around Feb. 20.
CVR Energy stock earns the No. 14 rank among its peers in the Oil & Gas-Refining/Marketing industry group. Sunoco and Suburban Propane are also among the group's highest-rated stocks.