In a welcome move, Phillips 66 stock saw its Relative Strength Rating improve from 63 to 76 on Wednesday.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matched up against all other stocks.
Decades of market research shows that the best stocks typically have an 80 or higher RS Rating as they launch their biggest runs. See if Phillips 66 stock can continue to rebound and hit that benchmark.
See How IBD Helps You Make More Money In Stocks
Is Phillips 66 Stock A Buy?
Phillips 66 stock is building a consolidation with a 113.63 buy point. See if it can break out in heavy trading. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The oil & gas firm showed 36% earnings growth in the latest quarterly report, while sales growth came in at 22%.
Phillips 66 stock earns the No. 8 rank among its peers in the Oil & Gas-Refining/Marketing industry group. Global Partners and CrossAmerica Partners are also among the group's highest-rated stocks.
