As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD’s proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks tend to have an 80 or better RS Rating in the early stages of their moves.
After hitting a 52-week high of 75.90 on Dec. 31, Beam Global stock has pulled back into a consolidation and now out of a proper buy range. Look for the stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. 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.”
Earnings grew 17% last quarter, up from 0% in the prior report. Revenue also increased, from -57% to 4%.
Beam Global stock earns the No. 25 rank among its peers in the Electrical Power/Equipment industry group. Vertiv Holdings (VRT) and Franklin Electric (FELE) are also among the group’s highest-rated stocks.
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