One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Energy Transfer Equity (ET) cleared that benchmark Monday, with a jump from 79 to 82 Monday.
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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock’s price performance over the trailing 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
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Energy Transfer Equity is working on a consolidation with a 12.58 buy point. See if it can clear the breakout price in heavy volume, while being cautious of upcoming earnings.
The company reported -69% EPS growth in the latest quarterly report. Sales gains came in at 21%. Look for the next report on or around Aug. 3.
The company earns the No. 40 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Flex Lng (FLNG) and Rattler Midstream (RTLR) are also among the group’s highest-rated stocks.
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Source: https://www.investors.com/research/stocks-flashing-renewed-technical-strength-energy-transfer-equity/?src=A00220&yptr=yahoo