Suncor Energy stock stock had its Relative Strength (RS) Rating upgraded from 77 to 81 Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the best-performing stocks typically have an RS Rating of over 80 as they launch their biggest runs.
Looking For Winning Stocks? Try This Simple Routine
Is Suncor Energy Stock A Buy?
Suncor Energy stock has climbed more than 5% past a 26.97 entry in a first-stage consolidation, meaning it's now out of a proper buy range. 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 integrated oil & gas company reported negative growth for both sales and earnings last quarter.
Suncor Energy stock holds the No. 15 rank among its peers in the Oil & Gas-Integrated industry group. Williams Cos and TotalEnergies ADR are also among the group's highest-rated stocks.
