National Presto Inds saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an upgrade from 79 to 82.
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IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks stacks 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 better RS Rating in the early stages of their moves.
National Presto Inds broke out earlier, but is now about 3% below the prior 100.17 entry from a cup with handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new chart pattern and entry price. Also keep in mind that the latest consolidation is a later-stage base, and those involve more risk.
Earnings growth fell in the most recent report from 15% to -15%. But revenue moved higher, from 35% to 42%.
National Presto Inds holds the No. 31 rank among its peers in the Aerospace/Defense industry group. AAR Corp, GE Aerospace and Heico 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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