On Thursday, prior to the market open, SunRun reached an important performance benchmark, with its Relative Strength (RS) Rating entering into the 90-plus percentile with an improvement to 92, up from 88 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the market's biggest winners often have an 80 or higher RS Rating as they begin their biggest runs.
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Now is not an ideal time to jump in since it isn't near a proper buy zone. It has also just cleared key moving averages before opening down this morning. Let's see if it finds support at the 10-day MA and then see if the stock is able to establish and enter a buying range in heavy volume.
SunRun Earnings Report
Earnings growth increased last quarter from 0% to 773%. But sales fell from 46% to 44%. The company is expected to report its latest performance numbers on or around Feb. 16.
SunRun holds the No. 7 rank among its peers in the Energy-Solar industry group. Enphase Energy, Array Technologies and Canadian Solar are among the top 5 highly rated stocks within the group.
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