On Monday, Ameresco stock hit a key technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 85, up from 71 the day before.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves.
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Is Ameresco Stock A Buy?
Ameresco stock reclaimed its 50-day moving average on Thursday and is working on a consolidation with a 37.77 buy point. See if the energy stock can break out in volume at least 40% above average.
The alternative energy firm showed 0% earnings growth in the latest quarterly report. Revenue rose 10%. Look for the next report on or around Aug. 5.
Ameresco stock earns the No. 11 rank among its peers in the Energy-Alternative/Other industry group. Kenon Holdings, Ormat Technologies and Clearway Energy Cl C are among the top 5 highly rated stocks within the group.
