One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Nextracker stock cleared that benchmark Friday, with a jump from 69 to 80 Friday.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the market's biggest winners typically have an 80 or better RS Rating in the early stages of their moves.
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Is Nextracker Stock A Buy?
Nextracker stock 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 energy 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 solar tracker solutions firm reported 49% EPS growth in the latest quarterly report, while sales growth came in at 11%. Keep an eye out for the company's next round of numbers on or around Jan. 28.
Nextracker stock holds the No. 1 rank among its peers in the Energy-Solar industry group. First Solar and JinkoSolar Holding ADR are also among the group's highest-rated stocks.
