When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Raytheon Technologies, which had its Relative Strength (RS) Rating upgraded from 79 to 82 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Decades of market research shows that the market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves.
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Raytheon Technologies recently broke out from a cup without handle having a 99.82 buy point. It has continued to move higher and is almost beyond a proper entry point. It may be moving higher prior to next weeks earnings on the positive news from Lockheed Martin's recent earnings report.
Earnings News
Top and bottom line growth moved higher last quarter. Earnings were up 18%, compared to -4% in the prior report. Revenue increased from 5% to 6%. The company is expected to report its latest performance numbers on or around Apr. 25.
Raytheon Technologies holds the No. 19 rank among its peers in the Aerospace/Defense industry group. Heico Cl A and Embraer ADR are also among the group's highest-rated stocks.
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