Teekay Tankers stock had its Relative Strength (RS) Rating upgraded from 90 to 93 Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the top-performing stocks typically have an RS Rating north of 80 at the beginning of a new price run.
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Is Teekay Tankers Stock A Buy?
Teekay Tankers stock is trying to complete a consolidation with a 48.05 buy point. See if the energy stock can break out in volume at least 40% higher than normal. It's a later-stage pattern, and investors should be aware that those are less likely to lead to significant gains. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
While the company's top line growth fell last quarter from 127% to 53%, EPS grew 476%, up from 0% in the previous report.
Teekay Tankers stock earns the No. 1 rank among its peers in the Oil & Gas-Transportation/Pipeline industry group. Euronav and Frontline are also among the group's highest-rated stocks.
