Range Resources (RRC) Breaks Through RS Rating Threshold with Cup and Handle Chart Pattern

Range Resources (RRC) stock experienced a significant technical milestone on Thursday, as its Relative Strength (RS) Rating increased to 83 from 80 the previous day. This places it in the 80-plus percentile bracket, a ranking provided by Investor’s Business Daily that ranks market leadership from 1 (worst) to 99 (best) based on a stock’s price performance over the past year compared to all other stocks in their database.

Over the past century of market history, it has been observed that the best-performing stocks often have an RS Rating of 80 or higher during their major climbs. Currently, Range Resources is forming a cup without a handle with a buy point of $37.88. Traders are advised to closely monitor this energy stock and determine if it can break out in volume at least 40% higher than usual to potentially signal favorable market movement.

Despite posting earnings and sales growth rates of -52% and -42% in the most recent report, Range Resources has shown sequential improvement in quarterly earnings and sales. The company, headquartered in Fort Worth, Texas, is expected to announce its next quarterly financial results on or around April 23. In terms of its peers within the Oil & Gas-U.S. Exploration & Production industry sector, Range Resources holds the eighteenth position among top-rated stocks. Other notable performers include Matador Resources (MTDR), Northern Oil & Gas (NOG), and Diamondback Energy (FANG).

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