Schlumberger saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 87 to 92.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
History shows that the best-performing stocks tend to have an 80 or higher RS Rating at the beginning of a new run.
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Now is not an ideal time to jump in since it isn't near a proper buy zone. It has trended higher after falling, so let's see if the stock goes on to form a chart pattern and break out. Look for volume to pick up if that should happen.
Earnings grew 67% last quarter, up from 62% in the prior report. Revenue also increased, from 14% to 20%.
The company holds the No. 1 rank among its peers in the Oil & Gas-Field Services industry group. Civeo and Profrac Holding are also among the group's highest-rated stocks.
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