The Relative Strength (RS) Rating for First Solar[ticker symb=FSLR] stock entered a new percentile Wednesday, with an increase from 76 to 86.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against that of all other stocks.
History shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they launch their biggest price moves.
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Is First Solar Stock A Buy?
First Solar stock broke out Wednesday from a consolidation with a 232.00 buy point. The energy stock soared amid optimism that artificial intelligence's demand for power will help First Solar gain market share as reported by a UBS report.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 450%, compared to 0% in the prior report. Revenue increased from 16% to 45%.
First Solar stock holds the No. 1 rank among its peers in the Energy-Solar industry group. Nextracker and Solarmax Technology are also among the group's highest-rated stocks.
