On Wednesday, Ameresco stock reached a key technical benchmark, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an improvement to 93, a rise from 90 the day before. The alternative energy stock has been rallying amid skyrocketing oil prices.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's unique rating identifies price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners often have an 80 or higher RS Rating as they launch their largest price moves.
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Is Ameresco Stock A Buy?
Ameresco stock has been rallying in recent week and retaking its 200-day moving average. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to establish and enter a buy zone in heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth dropped in the company's most recent report from 8% to 6%, but revenue rose from -3% to 32%.
Ameresco stock earns the No. 1 rank among its peers in the Energy-Alternative/Other industry group. Brookfield Ren Corp and Rex American Resources are also among the group's highest-rated stocks.
