Nextracker saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, with an upgrade from 90 to 93.
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IBD's unique rating measures price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners typically have an RS Rating north of 80 in the early stages of their moves.
Nextracker is now considered extended and out of buy range after clearing a 46.90 buy point in a second-stage double bottom. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company showed 7% EPS growth in the latest quarterly report, while sales growth came in at -4%. Keep an eye out for the company's next round of numbers on or around May 14.
The company holds the No. 1 rank among its peers in the Energy-Solar industry group. SunRun and First Solar are also among the group's highest-rated stocks.
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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