On Thursday, Enphase Energy stock reached an important technical milestone, with its Relative Strength (RS) Rating climbing into the 90-plus percentile with an improvement to 93, an increase from 89 the day before.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength. This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks tend to have an RS Rating north of 80 at the beginning of a new run.
See How IBD Helps You Make More Money In Stocks
Is Enphase Energy Stock A Buy?
While Enphase Energy stock is not near a proper buy point right now, see if it manages to form and break out of a proper chart pattern. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The solar firm reported 41% earnings growth in its most recent report. Revenue increased 46%.
Enphase Energy stock holds the No. 1 rank among its peers in the Energy-Solar industry group. Jinko Solar and Solaredge Technologies are also among the group's highest-rated stocks.
