We track 9 stocks in the Oil industry (part of Oil, Gas & Consumable Fuels), each checked every evening for a base — a stretch where the price moves sideways in a range instead of trending.
As of the latest close, 4 are still building a base; 3 broke out earlier and are still above the breakout level; and 2 broke out but fell back below the breakout level.
The middle stock in this industry has a relative strength reading of 72 out of 99. That reading ranks each stock's price performance over the past year against every stock we track; half of this industry's 8 ranked stocks sit above 72 and half below. 4 stocks have a reading of 70 or higher.
7 of the 8 stocks we could measure (88%) closed above their 200-day average price — the average close over the last 200 trading sessions.