GE Aerospace stock closed just below a buy point on Tuesday, as the Aerospace/Defense industry group came off its strongest day since January 21.
On Monday, the S&P 500 rallied 1.8%, the Nasdaq composite advanced 2.3%. The gains followed reports that the Trump administration may exclude some countries from his reciprocal tariffs on April 2, and is considering not imposing new, separate sector-specific tariffs on automobiles, pharmaceuticals and semiconductors.
The 71 stocks in the Aerospace/Defense group collectively notched a 2.2% gain on Monday. That was their best performance since a 2.4% jump on the day after President Donald Trump's inauguration. Smaller, volatile names including Intuitive Machines and M-tron Industries led Monday's advance.
Advancers rising in the greatest volume included weapons test systems maker Astronics and Astronics, and aircraft leasing operation AerSale.
GE Stock Climbs On Monday
Meanwhile, GE Aerospace stock climbed 3% in light trade on Monday. Shares rose less than 1% on Tuesday.
That left GE stock narrowly below a 212.19 buy point for a flat base.
On Wednesday, GE climbed above a trendline touching the highs of the pattern. That gave the stock an early entry around 202. But this is a higher-risk buy point, especially since the still uncertain market makes any entry riskier than usual.
Shares have a year-to-date gain of just above 27% through Tuesday's close. GE Aerospace has lodged three breakouts in the past eight months.
In the current, unpredictable market, IBD suggests stocks with ATRs of 3 or below.
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