In a welcome move, Generac Holdings stock saw its Relative Strength Rating improve from 70 to 75 on Monday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating of over 80 as they launch their largest price moves. See if Generac Holdings stock can continue to rebound and hit that benchmark.
Looking For Winning Stocks? Try This Simple Routine
Is Generac Holdings Stock A Buy?
Generac Holdings stock broke out earlier, but has fallen back below the prior 141.54 entry from a cup without handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the most recent pattern is a later-stage base, and such bases are more prone to failure.
The company posted negative growth for both sales and earnings last quarter. Generac Holdings is expected to release its next quarterly numbers on or around Jul. 26.
Generac Holdings stock earns the No. 21 rank among its peers in the Electrical Power/Equipment industry group. Powell Industries and Vertiv Holdings are also among the group's highest-rated stocks.
