First Solar (FSLR) stock saw a positive improvement in its Relative Strength (RS) Rating from 66 to 72 on Friday. While this is a step in the right direction, it still falls short of the 80 or higher score that investors typically seek. The RS Rating, which ranges from 1 to 99, reflects a stock’s price performance over the past year in relation to all other stocks in the database.
Research indicates that top market performers generally have RS Ratings above 80 during the initial stages of their upward movements. It will be important to observe if First Solar can continue to demonstrate renewed price strength and reach this benchmark. The company is currently in the process of completing a consolidation with a 232.00 buy point, making it worthwhile to monitor if the stock can break out with heavy trade volume.
First Solar showed promising growth in both earnings and sales in the prior quarter. Earnings-per-share increased significantly from 0% to 450%, while revenue rose from 16% to 45%. The stock holds the top rank within the Energy-Solar industry group, positioning it favorably among competitors like Solarmax Technology (SMXT) and Nextracker (NXT), which also boast high ratings.
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