April 14, 2024 2:42 pm
General Dynamics Stock Achieves Relative Strength Rating of 80 or higher

On Tuesday, General Dynamics (GD) stock was upgraded to a Relative Strength (RS) Rating of 84 from 80. This exclusive rating from Investor’s Business Daily measures market leadership on a scale of 1 to 99. The RS Rating shows how a stock’s price performance over the past 52 weeks compares to all other stocks in the database. According to historical data, top-performing stocks typically have an RS Rating of 80 or higher as they begin their biggest climbs.

General Dynamics stock is currently considered extended and outside of the buy range after surpassing a buy point of 245.06 in a first-stage saucer with handle pattern. However, investors should keep an eye on if the aerospace stock forms a new pattern or presents a follow-on buying opportunity such as a three-week tight or retracement to the 50-day or 10-week line.

The company experienced an increase in both earnings and sales growth in the last quarter, with EPS rising from -7% to 2%, and revenue increasing from 6% to 8%. The upcoming quarterly results are scheduled for release around April 24th. As per IBD Live, General Dynamics holds the No.22 rank among its peers in the Aerospace/Defense industry group, with Embraer ADR (ERJ), FTAI Aviation (FTAI), and Howmet Aerospace (HWM) being among the top five highly rated stocks in the group.

Investors can use MarketSmith tools for stock analysis and IBD Live for daily insights into the stock market. For those interested in capitalizing on short-term trends, SwingTrader tool is recommended. Additionally, IBD provides tools that simplify research on growth stocks, helping investors find top-performing stocks easily.

Overall, General Dynamics is showing strong signs of growth and could be worth keeping an eye on for future investment opportunities.

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