On Tuesday, TransDigm Group reached an important technical milestone, with its Relative Strength (RS) Rating entering into the 80-plus percentile with an improvement to 84, up from 74 the day before.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Over 100 years of market history shows that the market's biggest winners tend to have an RS Rating north of 80 as they launch their biggest climbs.
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While it's not currently an ideal time to jump in, see if the stock manages to form a consolidation and break out.
TransDigm Group showed 9% earnings growth in its most recent report. Sales rose 12%.
TransDigm Group earns the No. 24 rank among its peers in the Aerospace/Defense industry group. Elbit Systems, Heico and Astronics are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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