On Friday, Enphase Energy stock cleared a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 93, up from 90 the day before.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks often have an 80 or better RS Rating as they begin their largest climbs.
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Is Enphase Energy Stock A Buy?
Enphase Energy stock had a failed breakout from a double-bottom pattern, amid stock market correction. While the stock is not near an ideal buy zone right now, see if it goes on to form and break out of a proper base. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The solar energy stock reported 41% earnings growth in its most recent report. Sales increased 46%. The next quarterly numbers are expected on or around Jul. 27.
Enphase Energy stock earns the No. 1 rank among its peers in the Energy-Solar industry group. Enphase Energy and Jinko Solar are also among the group's highest-rated stocks.
