Brookfield Renewable had its Relative Strength (RS) Rating upgraded from 67 to 72 Tuesday — a welcome improvement, but still below the 80 or better score you look for.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating of above 80 in the early stages of their moves. See if Brookfield Renewable can continue to rebound and hit that benchmark.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a base and break out.
Brookfield Renewable posted 0% EPS growth in its most recent report. Revenue gains came in at 6%.
The company earns the No. 9 rank among its peers in the Energy-Alternative/Other industry group. Kenon Holdings, Clearway Energy Cl C and Ormat Technologies are among the top 5 highly rated stocks within the group.
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