Halliburton (HAL), one of the top-five stocks in the oil field services and products industry, is making waves with its near completion of a cup base. The company recently reported impressive profit and sales numbers, causing its Relative Strength Rating to rise from 68 to 71. This upgraded rating indicates that Halliburton outperformed 71% of all stocks over the past year, marking a significant improvement.

With an 87 Composite Rating out of 99, Halliburton demonstrates overall strength in the market. The company’s standout 92 Earnings Per Share Rating and a B+ Accumulation/Distribution Rating further reflect its appeal to big funds, which are showing avid interest in its stock. Additionally, Halliburton boasts a best-possible A SMR Rating, signifying strong fundamentals in terms of sales, profit margins, and return on equity.

The recent shift in the auto market towards hybrid and traditional gas-engine vehicles, combined with increased driving post-pandemic, is providing support to the oil and gas industry. Halliburton stock has seen a substantial climb of about 865% from its Covid crash low in late March 2020 to near 41 on Thursday afternoon. Currently, the stock is working on a cup-without-handle base with a 43.85 buy point, with investors eagerly anticipating a potential breakout in volume at least 40% higher than normal.

While Halliburton’s fundamentals remain sound, its recent earnings and revenue growth rates have tapered down. The company recorded a 19% increase in earnings to 86 cents a share last quarter, accompanied by a modest 3% rise in revenue to $5.74 billion, marking the smallest gains in four quarters. However, with the company’s news conference scheduled to discuss first quarter results on the morning of April 23, investors are hopeful for a return to rising EPS and revenue growth rates this quarter.

With a No. 4 rank among its peers in the 29-stock Oil & Gas-Field Services industry group, Halliburton stock continues to be a strong contender in the market.