Canadian Solar saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 67 to 72.
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IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best stocks tend to have an 80 or higher RS Rating as they begin their biggest climbs. See if Canadian Solar can continue to rebound and clear that threshold.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a base and break out.
The company posted 0% earnings growth last quarter. Revenue rose -10%. Keep an eye out for the company's next round of numbers on or around Aug. 21.
The company earns the No. 12 rank among its peers in the Energy-Solar industry group. Nextracker, First Solar and SolarEdge Technologies 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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