IBD Rating Upgrades: Encana Shows Improved Relative Price Strength

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Encana ( ECA ) saw a positive improvement to its Relative Strength ( RS ) Rating on Monday, with an increase from 69 to 73.

[ibd-display-video id=2368044 width=50 float=left autostart=true] This unique rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.

History shows that the stocks that go on to make the biggest gains typically have an RS Rating of above 80 as they launch their biggest price moves. See if Encana can continue to show renewed price strength and clear that threshold.

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Encana is building a cup with handle with a 13.08 entry . See if it can clear the breakout price in volume at least 40% higher than normal.

Encana reported negative growth for both the top and bottom lines last quarter.

The company earns the No. 12 rank among its peers in the Oil & Gas-International Exploration & Production industry group. CNOOC ( CEO ), Canadian Natural Resources ( CNQ ) and Repsol ( REPYY ) are among the top 5 highly rated stocks within the group.


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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: ECA , RS , CEO , CNQ , REPYY

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