In a welcome move, Devon Energy saw its Relative Strength Rating rise from 70 to 73 on Thursday.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This unique 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 matched up against all other stocks.
Over 100 years of market history reveals that the best stocks tend to have an RS Rating north of 80 as they begin their largest price moves. See if Devon Energy can continue to show renewed price strength and clear that threshold.
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Devon Energy is not currently showing a potential buy point. The recent breakout from a Double-Bottom base failed. It is currently trading below key moving averages, so it is best to see if the stock goes on to build a new base that could launch a new move.
The company reported 102% earnings growth in its most recent report, while sales growth came in at 57%.
The company holds the No. 22 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. and Denbury are also among the group's highest-rated stocks.
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