When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Schlumberger (SLB), which had its Relative Strength (RS) Rating upgraded from 74 to 84 Monday, after a big move up last Friday.
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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 market leadership by using a 1 (worst) to 99 (best) score that shows how a stock’s price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the market’s biggest winners typically have an RS Rating of above 80 as they launch their biggest price moves.
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Schlumberger is working on a consolidation with a 59.45 buy point. Friday’s action saw a big move to the positive, which moved it far above a possible early entry on a trend line. See if the stock can clear the breakout price in heavy trade after digesting the big move up.
SLB Earnings
Schlumberger saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 73% to 85%. Revenue rose from 27% to 30%. The next quarterly results are expected on or around Jul. 21.
Schlumberger holds the No. 6 rank among its peers in the Oil & Gas-Field Services industry group. North Amer Construction (NOA) and Oceaneering Intl (OII) are also among the group’s highest-rated stocks.
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Source: https://www.investors.com/research/stocks-to-watch-schlumberger-sees-rs-rating-rise-to-84/?src=A00220&yptr=yahoo