Range Resources (RRC) stock experienced a significant increase in its Relative Strength (RS) Rating, reaching 83 from 80 the previous day, on Thursday. This RS Rating is a unique rating system from Investor’s Business Daily that measures market leadership on a scale of 1 to 99. It compares a stock’s price performance over the last 52 weeks with that of all other stocks in the database.
Research over the past century has shown that the top-performing stocks tend to have an RS Rating of 80 or above as they begin their most significant climbs. Currently, Range Resources stock is forming a cup without handle pattern with a buy point of 37.88. Investors are advised to monitor the stock’s trading volume closely, looking for a breakout with volume at least 40% higher than normal.
Although there was a decline in earnings and sales growth of 52% and 42% respectively in the latest report, there has been improvement over the past two quarters for both earnings and sales. The Texas-based company is expected to release its next quarterly numbers around April 23. Range Resources stock ranks number 18 among its peers in the Oil & Gas – U.S. Exploration & Production industry group, with top-rated stocks in the group including Matador Resources (MTDR), Northern Oil & Gas (NOG), and Diamondback Energy (FANG).
With significant progress in its RS Rating, Range Resources stock shows potential for growth and success in the future. To learn more about market timing, growth stocks, long-term investments, and how to research growth stocks using IBD’s tools and resources, investors can visit Investor’s Business Daily’s website.
