Raytheon Technologies had its Relative Strength (RS) Rating upgraded from 64 to 71 before the open Monday -- a welcome improvement, but still short of the 80 or better score you prefer to see. It is down today, likely due to the market volatility caused by the banking industry turmoil.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves. See if Raytheon Technologies can continue to rebound and clear that threshold.
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Raytheon Technologies is working on a flat base with a 108.94 buy point. It currently is trading below key moving averages so might be best to keep on a watch list. See if the stock can clear those and break out in volume at least 40% higher than normal.
Earnings Report
Raytheon Technologies saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -4% to 18%. Revenue rose from 5% to 6%.
Raytheon Technologies earns the No. 24 rank among its peers in the Aerospace/Defense industry group. Espey Mfg & Elec and Heico Corp are also among the group's highest-rated stocks.
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