Enbridge saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 70 to 74.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks compares to other publicly traded companies.
Decades of market research reveals that the top-performing stocks tend to have an RS Rating of at least 80 as they begin their biggest runs. See if Enbridge can continue to show renewed price strength and hit that benchmark.
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Enbridge has climbed more than 5% past a 38.37 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings grew -11% last quarter, up from -15% in the prior report. Revenue also increased, from 9% to 51%.
Enbridge earns the No. 13 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Oneok, Energy Svcs of America and DT Midstream are among the top 5 highly rated stocks within the group.
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