On Monday, Daqo New Energy got a positive adjustment to its Relative Strength (RS) Rating, from 68 to 85.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily tracks share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Is Daqo New Energy Stock A Buy?
Daqo New Energy stock has been rallying in recent weeks, rising above its 200-day moving average. The Chinese solar stock is now considered extended and out of buy range after clearing a 53.70 buy point in a first-stage consolidation. 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 line.
Earnings grew 524% last quarter, up from 83% in the prior report. Revenue also increased, from 60% to 400%.
Daqo New Energy stock holds the No. 1 rank among its peers in the Energy-Solar industry group. For more industry news, check out "Energy Stocks And Industry News: Oil, Gas, Solar, Coal."
