Banking

Enphase Energy Joins Elite Club Of Stocks With RS Ratings Over 90

Enphase Energy (ENPH) saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 87 to 92.




X



When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD’s unique RS Rating identifies market leadership by showing how a stock’s price action over the last 52 weeks compares to that of the other stocks in our database.

History reveals that the market’s biggest winners typically have an RS Rating north of 80 as they launch their biggest runs.


Looking For The Best Stocks To Buy And Watch? Start Here


Enphase Energy is now considered extended and out of buy range after clearing a 70.46 buy point in a first-stage cup without handle. 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 moving average.

Taking a look at top and bottom line numbers, the company has posted two quarters of increasing earnings growth. Revenue growth has also moved higher over the same time frame. Enphase Energy is expected to release its next quarterly numbers on or around May 5.

The company holds the No. 2 rank among its peers in the Energy-Solar industry group. Daqo New Energy (DQ) is the No. 1-ranked stock within the group.

YOU MIGHT ALSO LIKE:

Which Stocks Are Showing Rising Relative Strength?

Why Should You Use IBD’s Relative Strength Rating?

How Relative Strength Line Can Help You Judge A Stock

Evaluate Any Stock With Stock Ratings, IBD Charts And Stock Checkup

Most Related Links :
newsbinding Governmental News Finance News

Source link

Back to top button