On Tuesday, Ameresco hit a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 88 the day before.
This unique rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history shows that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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Ameresco is now considered extended and out of buy range after clearing a 31.96 buy point in a first-stage cup with handle. See if the 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.
While earnings-per-share growth fell in the company's most recent quarterly report from 0% to -33%, the top line grew 34%, up from 10% in the prior report. Look for the next report on or around Nov. 7.
Ameresco holds the No. 8 rank among its peers in the Energy-Alternative/Other industry group. Kenon Holdings, GE Vernova and Clearway Energy Cl C are among the top 5 highly rated stocks within the group.
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