When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Shoals Technologies stock just met that criteria with a new score of 81.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary rating tracks share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners tend to have an RS Rating of over 80 as they begin their biggest price moves.
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Is Shoals Technologies Stock A Buy?
While Shoals Technologies is not near an ideal buy point right now, see if it is able to form and break out of a proper base.
The solar company reported 180% earnings growth in its most recent report. Revenue rose 55%.
Shoals Technologies stock earns the No. 2 rank among its peers in the Energy-Solar industry group. Shoals Technologies and Nextracker are also among the group's highest-rated stocks.
