General Dynamics (GD) received an exclusive rating upgrade on Tuesday, moving from 80 to 84 on the relative strength (RS) scale. This rating measures market leadership and shows how well the share price has performed compared to all other stocks in the database over the past 52 weeks.

Historical data suggests that stocks with an RS rating of 80 or higher are typically among the best performers during their biggest rally. However, General Dynamics shares are now considered extended and out of buy range after breaking above the 245.06 buy point in the first stage plate with a handle pattern.

Investors should watch for new patterns or buying opportunities, such as a three-week angle or a retracement to the 50-day or 10-week line. The aerospace and defense company reported strong earnings and sales growth in its latest quarter, with EPS increasing from -7% to 2%, and revenue increasing from 6% to 8%. The next set of quarterly results is expected to be announced around April 24.

General Dynamics’ stock ranks #22 among its peers in the aerospace/defense group, alongside Embraer ADR (ERJ), FTAI Aviation (FTAI), and Hovmet Aerospace (HVM) as some of the top highly rated stocks in the group. MarketSmith tools can help investors with stock analysis, while IBD Live provides daily insight into the stock market. For those looking to take advantage of short-term trends, SwingTrader is recommended. Additionally, IBD tools simplify researching growth stocks by helping investors find the best performing options.

By Samantha Johnson

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