On Tuesday, Canadian Solar cleared an important performance benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 80, up from 70 the day before.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary RS Rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research reveals that the best-performing stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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 offer and clear an appropriate buy point.
Canadian Solar reported 0% EPS growth in its most recent report. Revenue gains came in at -10%.
Canadian Solar holds the No. 12 rank among its peers in the Energy-Solar industry group. Nextracker, SunRun 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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