On Friday, BKV got a positive adjustment to its Relative Strength (RS) Rating, from 79 to 88.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the best stocks typically have an RS Rating north of 80 as they launch their biggest runs.
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BKV has moved more than 5% past an 18.88 entry in a first-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
The company reported 0% EPS growth last quarter, while sales growth came in at -10%.
The company earns the No. 35 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources, Riley Exploration Permn and Crescent Energy are among the top 5 highly rated stocks within the group.
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