We track 10 stocks in the Petroleum Products 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, 7 are still building a base; and 3 broke out but fell back below the breakout level.
The middle stock in this industry has a relative strength reading of 52 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 10 ranked stocks sit above 52 and half below. 4 stocks have a reading of 70 or higher.
7 of the 10 stocks we could measure (70%) closed above their 200-day average price — the average close over the last 200 trading sessions.