When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock’s price movement over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves. See if First Solar can continue to rebound and hit that benchmark.
First Solar broke out earlier, but has fallen back below the prior 97.58 entry from a cup with handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it’s considered a failed breakout. If that happens, it’s best to wait for a new pattern to form. Also keep in mind that the most recent pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The company posted 120% earnings growth in the latest quarterly report, while sales growth came in at -2%.
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