SolarEdge Technologies stock saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, rising from 80 to 83.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
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Is SolarEdge Technologies Stock A Buy?
The IBD 50 stock is not currently near a potential buying area but the solar stock would be a good addition to your watch list. See if the stock goes on to build a promising consolidation that could launch a new move.
While EPS growth dropped in the prior quarter from -26% to -37%, revenue rose 59%, up from 52% in the previous report.
SolarEdge Technologies stock holds the No. 4 rank among its peers in the Energy-Solar industry group. Array Technologies and Shoals Technologies are also among the group's highest-rated stocks.
