When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Petroleo Brasileiro just met that criteria with a new score of 86.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research reveals that the market's biggest winners typically have an RS Rating north of 80 as they begin their biggest price moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to form a chart pattern and break out. It has three positive days in a row, allowing it to clear several key moving averages. It is still below the 200-day, however, and volume is below average.
Earnings Preview
Earnings growth increased in the company's most recent report from 49% to 153%, but the top line fell from 41% to 25%. The next quarterly results are expected on or around May 9.
Petroleo Brasileiro stock earns the No. 7 rank among its peers in the Oil & Gas-Integrated industry group. YPF ADR and BP ADR are also among the group's highest-rated stocks.
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