On Friday, Fluence Energy hit an important technical benchmark, with its Relative Strength (RS) Rating rising into the 90-plus percentile with an upgrade to 91, an increase from 88 the day before.
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IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
History shows that the best-performing stocks tend to have an 80 or better RS Rating in the early stages of their moves.
Fluence Energy has climbed more than 5% past a 10.35 entry in a first-stage cup without handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 0% earnings growth in its most recent report. Sales gains came in at 25%.
Fluence Energy holds the No. 21 rank among its peers in the Energy-Alternative/Other industry group. Bloom Energy, Enlight Renewable Energy and Amprius Technologies 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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