On Thursday, Brookfield Renewable received a positive adjustment to its Relative Strength (RS) Rating, from 67 to 71.
IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History shows that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves. See if Brookfield Renewable can continue to show renewed price strength and clear that threshold.
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While the stock is not near an ideal entry right now, see if it goes on to form and break out of a proper consolidation.
Brookfield Renewable showed 0% earnings growth last quarter, while sales growth came in at 11%. The company is expected to report its latest numbers on or around Nov. 21.
The company earns the No. 20 rank among its peers in the Energy-Alternative/Other industry group. NET Power, Kenon Holdings and GE Vernova are among the top 5 highly rated stocks within the group.
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