One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Brookfield Renewable Ptrs now clears that threshold, with a jump from 80 to 83 Friday.
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This exclusive rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners often have an 80 or higher RS Rating in the early stages of their moves.
Brookfield Renewable Ptrs broke out earlier, but has fallen back below the prior 26.67 entry from a cup with handle. If a stock you're tracking breaks past a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also keep in mind that the latest consolidation is a later-stage base, and such bases are more prone to failure.
The company showed 0% earnings growth in its most recent report. Sales rose 6%. The next quarterly numbers are expected on or around Aug. 1.
The company earns the No. 18 rank among its peers in the Energy-Alternative/Other industry group. Bloom Energy, Enlight Renewable Energy and Centrus Energy are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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