First Solar Shows Improved Relative Price Performance; Still Shy Of Benchmark
On Tuesday, First Solar got an upgrade to its Relative Strength (RS) Rating, from 70 to 77.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the best-performing stocks typically have an RS Rating of over 80 as they begin their largest runs. See if First Solar can continue to rebound and hit that benchmark.
First Solar has climbed more than 5% past a 97.58 entry in a second-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
First Solar posted 120% EPS growth last quarter. Revenue increased -2%. Keep an eye out for the company's next round of numbers on or around Oct. 27.
First Solar holds the No. 3 rank among its peers in the Energy-Solar industry group. Daqo New Energy and First Solar are also among the group's highest-rated stocks.