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Investors Business Daily
Investors Business Daily
Business
INVESTOR'S BUSINESS DAILY and GLENN LARKIN

Enphase Energy Stock Shows Rising Relative Strength, Hitting 90+

On Friday, Enphase Energy cleared an important performance benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 94, up from 88 the day before.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of 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 as they begin their largest price moves.

See How IBD Helps You Make More Money In Stocks

The stock, which is on both the IBD 50 and IBD Sector Leaders screens, is within a buy range after moving past a 193.00 entry in a double bottom. Once a stock moves 5% or higher beyond the initial entry, it's considered out of buy range.

Enphase Energy reported 41% EPS growth in its most recent report. Revenue gains came in at 46%.

The company earns the No. 1 rank among its peers in the Energy-Solar industry group. Daqo New Energy and Jinko Solar are also among the group's highest-rated stocks.

 

​Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks

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