Daqo New Energy stock saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 69 to 72.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 in the early stages of their moves. See if Daqo New Energy can continue to show renewed price strength and clear that threshold.
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Is Daqo New Energy Stock A Buy?
Daqo New Energy stock has recently dipped below its 200-day moving average. While now is not an ideal time to jump in, see if this solar stock is able to form a base and break out.
The Chinese solar company showed 167% EPS growth in its most recent report, while sales growth came in at 182%. The next quarterly numbers are expected on or around Oct. 28.
Daqo New Energy stock holds the No. 2 rank among its peers in the Energy-Solar industry group. Daqo New Energy and Jinko Solar are also among the group's highest-rated stocks.
