IBD Rating Upgrades: First Solar Flashes Improved Technical Strength

First Solar (FSLR) saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an increase from 65 to 72.


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 measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price performance over the trailing 52 weeks compares to all the other stocks in our database.

Decades of market research reveals that the best-performing stocks tend to have an RS Rating of above 80 as they launch their largest price moves. See if First Solar can continue to show renewed price strength and hit that benchmark.

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First Solar broke out earlier, but is now trading around 4% 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 understand that the most recent pattern is a later-stage base, and those involve more risk.

First Solar reported 120% earnings growth in the latest quarterly report. Sales increased -2%.

First Solar holds the No. 2 rank among its peers in the Energy-Solar industry group. First Solar (FSLR) and Solaredge Technologies (SEDG) are also among the group’s highest-rated stocks.


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View more information: https://www.investors.com/ibd-data-stories/ibd-rating-upgrades-first-solar-flashes-improved-technical-strength/

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