Array Technologies Inc (NASDAQ:ARRY) Shows Strong Technical and Fundamental Momentum

Using a methodical process that joins technical ability with basic expansion traits can help find good investment possibilities. The Mark Minervini Trend Template offers a strict structure for finding stocks in clear uptrends, while high expansion momentum checking makes sure these businesses have the profit and sales speed that usually lead to lasting price gains. This two-part method centers on stocks showing both price momentum and basic company expansion.

Technical Ability and Trend Conformity

Array Technologies Inc (NASDAQ:ARRY) shows good agreement with Minervini's Trend Template rules, which centers on finding stocks in set uptrends with gaining momentum. The template's moving average rules make sure a stock is moving up over several periods, while price location compared to 52-week highs and lows confirms ability and momentum continuation.

Important technical measures backing ARRY's trend template agreement are:

• Current price ($8.75) trading above all main moving averages (50-day: $8.30, 150-day: $6.92, 200-day: $6.85)
• All moving averages moving upward, confirming continued buying interest
• 50-day SMA located above both 150-day and 200-day SMAs, showing gaining intermediate-term momentum
• Trading 133% above its 52-week low of $3.76 while staying within 16% of its 52-week high of $10.37
• Relative strength score of 85.9, showing it does better than 86% of all stocks

These technical traits are important because Minervini's research indicates stocks fitting these rules often show continued ability, as institutional buying and getting better basics create a cycle of price gains.

Expansion Momentum Basics

Apart from technical ability, ARRY displays interesting expansion traits that match high expansion momentum investing. The company's recent quarterly report shows clear betterment, especially in sales expansion and profit gains, which are important for continued stock outperformance.

Recent basic betterments are:

• Quarterly EPS expansion of 25% compared to the same quarter last year
• Sales expansion of 41.6% in the newest quarter, getting faster from earlier periods
• Three EPS estimate beats in the last four quarters with a typical surprise of 19.8%
• Positive profit estimate changes with next-year EPS estimates increasing 5.7% over three months
• Profit margin improvement to 7.86% in the latest quarter from 0.76% in the earlier quarter

These basic betterments are especially notable because Minervini notes that stocks showing both technical ability and basic speed increases often represent the top chances for major price gains. The mix of improving profit margins, profit surprises, and positive estimate changes suggests the company's expansion could be lasting instead of short-term.

Industry Standing and Market Situation

Working in the electrical equipment field, Array Technologies gains from the worldwide move toward renewable energy. The company's ground-mounting systems for solar energy projects place it in an expanding business, while its technical ability compared to field equals (doing better than 53% of electrical equipment stocks) shows it is taking market part and performing well.

The stock's present technical arrangement shows a holding pattern inside a set uptrend, trading between $7.62 and $10.37 over the last month. This kind of base building often comes before more gains when it happens inside a Stage 2 uptrend, especially when joined by strong basics.

Technical Review Summary

According to ChartMill's technical review, ARRY gets a good technical score of 8 out of 10, reflecting its steady performance across both short and long-term periods. The review states the stock is trading in the higher part of its 52-week range while keeping a positive long-term direction. Support areas are found between $7.66 and $6.23, giving possible places for risk control, while resistance is near the $9.00 level. The full technical report gives detailed review of support and resistance areas, volume traits, and direction ability check.

View the complete technical analysis for ARRY

Finding Like Chances

For investors looking for similar high-expansion momentum stocks meeting strict trend rules, the checking method that found ARRY can produce more options. The mix of Minervini's Trend Template with high expansion momentum filters helps find companies showing both technical ability and basic speed increases.

Discover more high-expansion momentum stocks meeting trend template rules

Disclaimer: This review is for information and learning only and should not be seen as investment guidance. The information given does not make a suggestion to buy or sell any security. Investors should do their own research and talk with a qualified financial consultant before making investment choices. Past results are not a guide for future outcomes.