When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Bloom Energy (BE), which had its Relative Strength (RS) Rating upgraded from 65 to 83 Wednesday.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor’s Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price performance over the last 52 weeks compares to all the other stocks in our database.
History reveals that the market’s biggest winners often have an RS Rating of at least 80 in the early stages of their moves.
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While the stock is not near an ideal buy point right now, see if it is able to form and break out of a proper consolidation. An additional positive is that is has cleared key moving averages recently, and has traded above them since.
The company posted 0% earnings growth in the latest quarterly report. Revenue rose 41%.
Bloom Energy holds the No. 14 rank among its peers in the Energy-Alternative/Other industry group. Ameresco (AMRC) is also among the group’s highest-rated stocks.
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Source: https://www.investors.com/research/stocks-to-watch-bloom-energy-sees-rs-rating-jump-to-83/?src=A00220&yptr=yahoo