First Solar’s RS Rating Boost: Will It Reach the 80 Benchmark and Break Out?

First Solar (FSLR) recently received a boost in its Relative Strength (RS) Rating from 66 to 72. Investor’s Business Daily uses this exclusive rating system to evaluate stock performance on a scale of 1 to 99. Stocks with ratings of 80 or higher are typically indicative of strong price performance over the last 52 weeks.

While First Solar’s RS Rating has improved, it still falls below the benchmark of 80. Investors will be closely watching the stock’s future price momentum to see if it can reach that level. The company is currently in a consolidation phase with a potential buy point of 232.00. Observing the stock’s trading volume will be crucial in determining if it can successfully break out.

In its most recent quarter, First Solar reported impressive growth in both earnings and sales. Earnings per share rose from zero to an incredible 450%, while revenue increased from just 16% to an astonishing 45%. The company currently holds the top spot among its peers in the Energy-Solar industry group, with other standout performers including Solarmax Technology (SMXT) and Nextracker (NXT).

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