In a welcome move, Lockheed Martin saw its Relative Strength Rating improve from 69 to 76 on Friday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating identifies price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Lockheed Martin can continue to rebound and hit that benchmark.
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Lockheed Martin is trying to complete a flat base with a 499.05 entry. Having just cleared the 50-day Moving Average, let's see if the stock can clear the breakout price in heavy volume.
In terms of fundamentals, the company has posted two quarters of rising earnings growth. Sales gains have also moved higher during the same period.
The company holds the No. 14 rank among its peers in the Aerospace/Defense industry group. Heico Corp and Teledyne Technologies are also among the group's highest-rated stocks.
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