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Solar Enphase Energy Stock Shines With Relative Strength Rating Jump To 93

On Thursday, Enphase Energy (ENPH) earned an upgrade to its Relative Strength (RS) Rating, from 86 to 93. The renewable energy stock has 86 Composite Rating.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD’s unique RS Rating measures market leadership by showing how a stock’s price action over the last 52 weeks compares to that of the other stocks in our database.

Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.


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Is Enphase Energy Stock A Buy?

After hitting a 52-week high of 229.04 on Feb. 10, the IBD 50 stock has been building the right side of  a consolidation and now considered out of buy range. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”

 

Taking a look at top and bottom line numbers, the company has posted three quarters of rising earnings growth. Revenue growth has also increased over the same time frame.

The Calif.-based solar company earns the No. 1 rank among its peers in the Energy-Solar industry group. Daqo New Energy (DQ) and SunPower (SPWR) are also among the group’s highest-rated stocks.

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