These 4 stocks are breaking out today, while exhibiting relative price strength in the process. The RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how the company’s price performance over the trailing 52 weeks matches up against other publicly traded companies.
Stocks Breaking Out Today
Stocks that make the MarketSmith RS Line Blue Dot list satisfy two criteria:
First, these stocks have seen their Relative Strength line hit a new 52 week high.
Second, the stock is currently building a base or breaking out of a base. If both of these conditions are present, the stock goes on the list for 90 days. You can access the list by clicking on the “Open Stock Ideas” button in the top-right corner on any MarketSmith chart.
Nextera Energy (NEE) saw its Relative Strength (RS) Rating climb to a new high 0f 93 on Thursday, as the Utility Sector pushed higher.
The upgrade means the stock is now outpacing 93% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major price gains. NEE is close to achieving this score.
Nextera Energy (NEE) reported Q2 earnings of $0.81 per share on revenue of $5.2 billion on July 22. Estimate were $0.75 per share on revenue of $5.2 billion. Revenue grew 32.0% on a year-over-year basis.
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