MPLX saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, with an upgrade from 78 to 83.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the best stocks tend to have an RS Rating of over 80 as they begin their biggest price moves.
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MPLX is trying to complete a first-stage consolidation with a 35.59 buy point. See if it can break out in volume at least 40% above average now that it has passed its earnings release.
MPLX saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 15% to 26%. Revenue rose from 12% to 23%.
MPLX earns the No. 25 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Scorpio Tankers and Enterprise Products are also among the group's highest-rated stocks.
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