The RS Rating of Generac Holdings (GNRC) has been upgraded from 79 to 83 on Thursday. This proprietary rating by IBD, which ranges from 1 to 99, indicates market leadership and compares a stock’s price behavior over the past 52 weeks to all other stocks in the database. Stocks with an RS Rating of at least 80 often go on to make significant gains.
In recent news, Generac Holdings stock experienced a breakout earlier but has now fallen below the previous entry point of 133.15 from a cup with handle formation. If a stock breaks out and then falls 7% or more below the entry point, it is considered a failed breakout, and waiting for a new base to form is advisable. Additionally, the most recent pattern is a later-stage base, which increases the risk associated with establishing a new position or adding shares to an existing one.
Despite this setback, Generac Holdings has shown strong financial performance indicators over the past few quarters. The company has reported three quarters of accelerating earnings growth and rising revenue gains during this period. Its next quarterly numbers are expected around May 1st. Within its Electrical Power/Equipment industry group, Generac Holdings holds the No.13 rank among its peers. Other highly rated stocks in this industry include nVent Electric (NVT), Vertiv Holdings (VRT), and Gates Industrial (GTES).
Given its recent RS Rating upgrade and solid financial performance indicators, Generac Holdings may be worth keeping an eye on for investors looking for top stocks in the market. MarketSurge’s tools such as IBD Live, SwingTrader, and growth stock research tools can provide valuable insights for individual investors looking to capitalize on short-term trends and identify top stocks in their portfolio management strategy.
Overall, Generac Holdings’ recent performance highlights how important it is for investors to monitor market trends closely and keep track of key financial metrics that can inform investment decisions