On Tuesday, Icahn Enterprises received a positive adjustment to its Relative Strength (RS) Rating, from 69 to 72.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 in the early stages of their moves. See if Icahn Enterprises can continue to show renewed price strength and hit that benchmark.
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Now is not an ideal time to jump in since it isn't near a proper buy zone. It has had several up days in a row. Let's see if the stock manages to establish an actionable pattern and enter a buying range with heavier trade.
Earnings Update
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 61%, compared to 0% in the prior report. Revenue increased from -16% to 21%. The company is expected to report its latest numbers on or around Aug. 6.
Icahn Enterprises holds the No. 12 rank among its peers in the Diversified Operations industry group. Otter Tail and Chemed are also among the group's highest-rated stocks.
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