First Solar saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 70 to 79.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves. See if First 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 is able to offer and clear a proper buy point.
The company posted 232% EPS growth in the latest quarterly report. Revenue rose 0%. The company is expected to report its latest results on or around Aug. 1.
The company earns the No. 6 rank among its peers in the Energy-Solar industry group. Daqo New Energy, Solaredge Technologies and Enphase Energy are among the top 5 highly rated stocks within the group.