Canadian Solar stock had its Relative Strength (RS) Rating upgraded from 69 to 80 Tuesday.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary rating identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating in the early stages of their moves.
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Is Canadian Solar Stock A Buy?
Canadian Solar stock edged above its 50-day moving average on Tuesday. While the energy stock is not near an ideal buying range right now, see if it manages to form and break out from a proper consolidation. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The solar company posted 167% EPS growth in the latest quarterly report. Revenue rose 0%.
Canadian Solar stock holds the No. 1 rank among its peers in the Energy-Solar industry group.
