On Monday, Fluence Energy stock reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 86, up from 66 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 measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Over 100 years of market history shows that the best-performing stocks often have an RS Rating of over 80 in the early stages of their moves.
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Is Fluence Energy Stock A Buy?
Fluence Energy stock is trying to complete shallow a cup with handle with an 18.86 entry. See if the stock can clear the breakout price in volume at least 40% above average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The alternative energy firm posted 0% earnings growth in its most recent report, while sales growth came in at -14%. Look for the next report on or around Dec. 12.
Fluence Energy stock holds the No. 20 rank among its peers in the Energy-Alternative/Other industry group. NextEra Energy Partners and Ormat Technologies are also among the group's highest-rated stocks.
