On Tuesday, Nextracker cleared an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 89 the day before.
Here Are 3 Keys For Successful Stock Investing
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the best stocks typically have an 80 or higher RS Rating at the beginning of a new run.
Nextracker is within a buy range after breaking past a 67.87 buy point in a consolidation. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity..
The company showed 25% EPS growth in the latest quarterly report, while sales growth came in at 20%.
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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