In a welcome move, Unit ( UNT ) saw its Relative Strength Rating rise from 66 to 79 on Friday.
[ibd-display-video id=2368044 width=50 float=left autostart=true] IBD's unique rating tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the market's biggest winners typically have an RS Rating of above 80 as they begin their largest price moves. See if Unit can continue to show renewed price strength and hit that benchmark.
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Unit has moved more than 5% past a 23.00 entry in a second-stage consolidation , meaning it's now out of a proper buy zone. 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.
Unit showed 150% earnings growth last quarter. Revenue gains came in at 23%.
The company holds the No. 7 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Viper Energy Partners ( VNOM ), Diamondback Energy ( FANG ) and R S P Permian ( RSPP ) 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
