ChargePoint Holdings Clears Key Benchmark, Hitting 80-Plus RS Rating

ChargePoint Holdings (CHPT) had its Relative Strength (RS) Rating upgraded from 69 to 85 Monday. At market close on Tuesday it rose again to 90 despite the market drop.

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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This proprietary rating measures market leadership by showing how a stock’s price action over the last 52 weeks compares to that of other stocks on the major indexes.

History shows that the market’s biggest winners tend to have an RS Rating north of 80 as they launch their biggest price moves.

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ChargePoint Holdings has climbed more than 5% past a 10.22 entry from  a two-year old first-stage flat base. It’s now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average. Recently it has cleared key moving averages. In today’s market plunge it still managed to close in the upper half the day’s range. Volume was also lower today.

Earnings Report

ChargePoint Holdings showed -38% earnings growth in the latest quarterly report, while sales growth came in at 93%.

The company earns the No. 29 rank among its peers in the Energy-Alternative/Other industry group. Montauk Renewables (MNTK) and Nextera Energy Partners (NEP) are also among the group’s highest-rated stocks.

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