Offshore Oil Driller Valaris Clears Technical Benchmark

On Tuesday, Valaris (VAL) earned a positive adjustment to its Relative Strength (RS) Rating, from 79 to 82. Decades of market research shows that the market’s biggest winners often have an 80 or higher RS Rating as they begin their biggest runs.


When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.

IBD’s proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the trailing 52 weeks stacks up against all the other stocks in our database.

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While Valaris is not near a proper buying range right now, see if it manages to form and break out of a proper chart pattern.

Valaris reported negative growth for both sales and earnings last quarter.

The company earns the No. 6 rank among its peers in the Oil & Gas-Drilling industry group. Patterson-Uti Energy (PTEN) and Precision Drilling (PDS) are also among the group’s highest-rated stocks.


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