The Relative Strength (RS) Rating for Lockheed Martin climbed into a new percentile Monday, with a rise from 80 to 84. The Aerospace/Defense group continues to move up the list of 197 sectors, currently No. 47.
When looking for 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 rating shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners tend to have an 80 or better RS Rating in the early stages of their moves.
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Lockheed Martin is working on a flat base with a 499.05 entry. Today it reversed higher just before hitting the 50-day moving average. It cleared the 21-day and now holds steady at the 10-day moving average. Now let's see if it can clear the breakout price in heavy trade.
Earnings Review
Regarding fundamentals, Lockheed Martin has posted rising EPS growth over the last two quarters. Sales gains have also risen during the same period.
The company holds the No. 13 rank among its peers in the Aerospace/Defense industry group. Espey Mfg & Elec and Heico Corp are also among the group's highest-rated stocks.
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