Ormat Technologies stock had its Relative Strength (RS) Rating upgraded from 65 to 73 Tuesday — a welcome improvement, but still shy of the 80 or higher score you prefer to see.
This proprietary rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matched up against all other stocks.
History shows that the stocks that go on to make the biggest gains often have an 80 or better RS Rating as they launch their largest climbs. See if Ormat Technologies can continue to rebound and hit that benchmark.
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Is Ormat Technologies Stock A Buy?
Ormat Technologies stock is still within a buy range after breaking past a 78.27 buy point in a cup with handle. Once a stock moves 5% or higher beyond the initial entry, it's considered extended and out of buy range.
The Reno, Nevada-based alternative energy compnay showed 0% earnings growth in the latest quarterly report, while sales growth came in at 9%. Keep an eye out for the company's next round of numbers on or around Nov. 6.
Ormat Technologies stock holds the No. 3 rank among its peers in the Energy-Alternative/Other industry group. Kenon Holdings is the top-ranked stock within the group.
