L3Harris had its Relative Strength (RS) Rating upgraded from 69 to 74 Thursday -- a welcome improvement, but still shy of the 80 or higher score you prefer to see.

When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matched up against all other stocks.

Decades of market research shows that the best stocks often have an RS Rating of over 80 as they launch their largest runs. See if L3Harris can continue to rebound and hit that benchmark.

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L3Harris is now considered extended and out of buy range after clearing a 200.68 buy point in a first-stage cup with handle. See if the stock forms a new chart pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.

In terms of fundamentals, L3Harris has posted rising EPS growth over the last three quarters. Revenue growth has also increased during the same period.

The company earns the No. 3 rank among its peers in the Aerospace/Defense industry group. Textron and L3Harris are also among the group's highest-rated stocks.