Canadian Natural Resources Sees IBD RS Rating Rise To 73

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Canadian Natural Resources ( CNQ ) had its Relative Strength ( RS ) Rating upgraded from 69 to 73 Monday -- a welcome improvement, but still short of the 80 or better score you look for.

[ibd-display-video id=2881825 width=50 float=left autostart=true] IBD's unique RS Rating identifies 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.

Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves. See if Canadian Natural Resources can continue to rebound and clear that threshold.

See How IBD Helps You Make More Money In Stocks

Canadian Natural Resources broke out earlier, but has fallen back below the prior 34.59 entry from a flat base . If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and buy point. Also keep in mind that the latest pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.

The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 0% to 159%. Revenue rose from 45% to 84%.

The company earns the No. 1 rank among its peers in the Oil & Gas-International Exploration & Production industry group. Canadian Natural Resources ( CNQ ) and Repsol ( REPYY ) are also among the group's highest-rated stocks.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: CNQ , RS , REPYY

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