On Wednesday, Fluence Energy received an upgrade to its Relative Strength (RS) Rating, from 79 to 82.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
History shows that the best stocks tend to have an RS Rating of above 80 in the early stages of their moves.
Hone Your Stock-Picking Skills By Focusing On These Factors
While the stock is not near an ideal buying range right now, see if it goes on to form and break out of a proper consolidation.
The company posted 0% EPS growth in its most recent report, while sales growth came in at -10%.
Fluence Energy earns the No. 5 rank among its peers in the Energy-Alternative/Other industry group. Kenon Holdings is the No. 1-ranked stock within the group.
RELATED:
Which Stocks Are Showing Rising Relative Strength?
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
