Canadian Solar had its Relative Strength (RS) Rating upgraded from 74 to 86 Friday.
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This exclusive rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the best-performing stocks typically have an RS Rating of at least 80 in the early stages of their moves.
Canadian Solar has risen more than 5% past a 13.35 entry in a first-stage double bottom, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Canadian Solar reported 0% earnings growth in the latest quarterly report, while sales growth came in at 4%.
Canadian Solar earns the No. 13 rank among its peers in the Energy-Solar industry group. Nextracker, Sunrun and First Solar are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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