ChargePoint Holdings saw a positive improvement to its Relative Strength (RS) Rating on Monday, rising from 62 to 71.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks compares to the rest of the market.
History reveals that the best stocks often have an RS Rating of at least 80 in the early stages of their moves. See if ChargePoint Holdings can continue to rebound and hit that benchmark.
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ChargePoint Holdings is not currently in a buy range. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company showed -38% EPS growth in its most recent report, while sales growth came in at 93%.
ChargePoint Holdings earns the No. 28 rank among its peers in the Energy-Alternative/Other industry group. Arcosa and Montauk Renewables are also among the group's highest-rated stocks.
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