Canadian Natural Resources Gets Relative Strength Rating Upgrade

The Relative Strength (RS) Rating for Canadian Natural Resources (CNQ) headed into a new percentile Thursday, as it got a lift from 66 to 72.


As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD’s proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the trailing 52 weeks stacks up against all the other stocks in our database.

Decades of market research shows that the best stocks often have an RS Rating of at least 80 as they begin their largest runs. See if Canadian Natural Resources can continue to show renewed price strength and hit that benchmark.

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Canadian Natural Resources has moved more than 5% past a 22.60 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 moving average.

Although earnings and sales growth came in at -89% and -27%, respectively, in the latest report, that showed improvement for both earnings-per-share and sales. The company is expected to report its next quarterly numbers on or around Mar. 5.

Canadian Natural Resources holds the No. 1 rank among its peers in the Oil & Gas-Canadian Exploration & Production industry group. (IBD) and (IBD) are also among the group’s highest-rated stocks.

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