When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Nextracker is one stock that just reached the mark, now earning a score of 81.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they begin their biggest price moves.
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Nextracker is trying to complete a consolidation with a 52.27 buy point. See if the stock can break out in heavy volume.
The company posted 7% earnings growth last quarter. Sales gains came in at -4%.
Nextracker earns the No. 1 rank among its peers in the Energy-Solar industry group. Enphase Energy and JinkoSolar Holding ADR are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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