On Thursday, BP stock earned a positive adjustment to its Relative Strength (RS) Rating, from 88 to 93.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Is BP Stock A Buy?
BP stock is now considered a bit extended and out of buy range after clearing a 30.39 buy point in a first-stage cup without handle. See if the stock pulls back and forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips. Also, check out "Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks."
Earnings growth picked up last quarter from 0% to 3,200%. But sales fell from 81% to 44%. Look for the next report on or around Feb. 2.
BP stock earns the No. 12 rank among its peers in the Oil & Gas-Integrated industry group. Cenovus Energy, Petroleo Brasileiro and Petrobras are among the top 5 highly rated stocks within the group. For more industry news, check out "Energy Stocks And Industry News: Oil, Gas, Solar, Coal."
