On Monday, SolarEdge Technologies received a positive adjustment to its Relative Strength (RS) Rating, from 78 to 82.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This unique rating identifies technical performance by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
Decades of market research reveals that the top-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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SolarEdge Technologies is still inside a buying range after breaking past a 311.58 entry in a cup with handle. Volume is lower than average, although that might be related to the time of year in addition to current market conditions. Keep an eye out for a higher-than-average volume day to the upside.
Earnings growth dropped in the most recent report from -26% to -37%. But revenue gains moved higher, from 52% to 59%.
SolarEdge Technologies earns the No. 3 rank among its peers in the Energy-Solar industry group. Enphase Energy and Daqo New Energy ADR are also among the group's highest-rated stocks.
