Bloom Energy had its Relative Strength (RS) Rating upgraded from 89 to 92 Thursday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the best-performing stocks often have an RS Rating north of 80 at the beginning of a new price run.
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Bloom Energy is not currently near a potential buying area. It is currently extended above key moving averages after rising four consecutive days. The $25 dollar mark could be a resistance area, so see if the stock goes on to now build a chart pattern that could kick off a new price move.
The company posted 0% earnings growth last quarter, while sales growth came in at 41%. Look for the next report on or around Feb. 8.
Bloom Energy earns the No. 7 rank among its peers in the Energy-Alternative/Other industry group. NextEra Energy Partners, and Ameresco are among the top 5 highly rated stocks within the group.
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