Oil industry giant Halliburton's Relative Strength (RS) Rating shot up to 73 Monday, from 64 the day before. The 73 RS Rating means Halliburton stock has outperformed 73% of all stocks over the past year. Halliburton stock has taken a wild ride, hitting a nearly four-year high in June, then sliding amid falling oil and gas prices. It's stabilized lately and could be priming for a fresh run higher.
Decades of market research shows that the top-performing stocks tend to have an RS Rating of at least 80 as they begin their biggest price moves. See if Halliburton can continue to rebound and clear that threshold.
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Halliburton Stock Strength Rating Nears Benchmark
Houston-based Halliburton provides construction and drilling services to oil majors worldwide. The best stocks tend to have an RS Rating north of 80. See if Halliburton forms a fresh base and breaks out from a proper chart pattern.
Among its other key ratings, Halliburton stock has a 71 Composite Rating, an 81 EPS Rating and a B SMR Rating (Sales+profit Margins+Return on equity) on an A to E scale with A tops. Looks for its ratings to improve after it posted quarterly earnings gains ranging from 84% to 155% this past year.
Earnings shot up 88% last quarter to 49 cents per share, on 37% revenue growth to $5.07 billion, its highest revenue growth rate in the last four quarters.
Halliburton stock was up 2.1% Monday afternoon, to about 30.30. It could be forming a deep cup pattern with a 44.09 buy point.
Highly Rated Oil Industry Peers
Halliburton stock earns the No. 10 rank among its peers in the Oil & Gas-Field Services industry group. Small-caps Civeo and Profrac Holding are among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This unique rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
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