Here's Why Canadian Solar (CSIQ) is a Great Momentum Stock to Buy

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Canadian Solar (CSIQ) - Canadian Solar currently holds a Momentum Style Score of A and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [3][4] - The stock has shown significant price increases, with shares up 5.09% over the past week compared to the Zacks Solar industry’s 0.88% [6] - Over the last quarter, CSIQ shares have risen 49.36%, and 76.67% over the past year, significantly outperforming the S&P 500, which increased by only 3.32% and 17.49% respectively [7] Trading Volume - CSIQ's average 20-day trading volume is 3,248,713 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - Recent earnings estimate revisions for CSIQ show one upward revision for the current fiscal year, increasing the consensus estimate from -$3.96 to -$3.21 [10] - For the next fiscal year, two estimates have moved upwards with no downward revisions, indicating positive sentiment [10] Conclusion - Given the strong momentum indicators and positive earnings outlook, Canadian Solar is positioned as a promising investment opportunity with a Momentum Score of A and a Zacks Rank of 2 (Buy) [12]