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Clean Energy Stock ChargePoint Holdings Scores Relative Strength Rating Upgrade

On Wednesday, ChargePoint Holdings (CHPT) reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 86 the day before. The clean energy sector has soared in the past six months following President Biden’s plan to invest in electric-vehicle infrastructure.

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

Decades of market research reveals that the best-performing stocks typically have an 80 or better RS Rating as they launch their biggest price moves.


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Is ChargePoint Holdings Stock A Buy?

ChargePoint Holdings stock has moved more than 5% past a 10.22 entry in a first-stage flat base, meaning it’s now out of a proper buy range. Look for the stock to create a new chance to get in 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.

 

ChargePoint Holdings reported negative growth for both sales and earnings last quarter.

The car charger is largest owner and operator of EV-charging stations in the U.S.  ChargePoint’s  financials health may see a turnaround as it takes advantage of the federal government’s EV spending plan.

The company holds the No. 26 rank among its peers in the Energy-Alternative/Other industry group. TPI Composites (TPIC), Kenon (KEN) and Ameresco (AMRC) are among the top 5 highly rated stocks within the group.

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