When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 as they begin their biggest runs.
Canadian Solar has climbed more than 5% past a 23.85 entry in a first-stage cup with handle, meaning it’s now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Canadian Solar reported -89% earnings growth in the latest quarterly report. Sales rose 13%.
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The post Canadian Solar Shows Market Leadership With Jump To 81 RS Rating appeared first on Investor's Business Daily.
Originally published at https://www.investors.com/ibd-data-stories/canadian-solar-shows-market-leadership-with-jump-to-81-rs-rating/ on .