In a welcome move, Nextracker saw its Relative Strength Rating improve from 64 to 77 on Tuesday.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
History shows that the best stocks tend to have an RS Rating of above 80 as they begin their largest price moves. See if Nextracker can continue to show renewed price strength and hit that benchmark.
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Nextracker is now considered extended and out of buy range after clearing a 41.42 buy point in a first-stage double bottom. 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.
The company reported 7% EPS growth in its most recent report. Sales increased -4%.
The company holds the No. 1 rank among its peers in the Energy-Solar industry group. Enphase Energy and First Solar are also among the group's highest-rated stocks.
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