When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is SolarEdge Technologies, which had its Relative Strength (RS) Rating upgraded from 71 to 82 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the market's biggest winners tend to have an RS Rating of at least 80 as they begin their biggest runs.
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SolarEdge Technologies broke out earlier, but is now trading around 4% below the prior 328.98 entry from a cup with handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also keep in mind that the latest consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Earnings grew 160% last quarter, up from -37% in the prior report. Revenue also increased, from 59% to 61%.
SolarEdge Technologies earns the No. 1 rank among its peers in the Energy-Solar industry group.
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