In a welcome move, Brookfield Renewable saw its Relative Strength Rating improve from 68 to 77 on Tuesday.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks tend to have an 80 or higher RS Rating as they launch their largest runs. See if Brookfield Renewable can continue to show renewed price strength and hit that benchmark.
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While it's not currently an ideal time to buy shares, see if the stock manages to establish and enter a buy zone in heavy trade.
The company showed 0% earnings growth last quarter, while sales growth came in at 10%. The next quarterly results are expected on or around Nov. 5.
The company holds the No. 11 rank among its peers in the Energy-Alternative/Other industry group. Kenon Holdings, GE Vernova and Clearway Energy Cl C are among the top 5 highly rated stocks within the group.
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