On Thursday, Redwire got an upgrade to its Relative Strength (RS) Rating, from 90 to 94.
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IBD's unique 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 top-performing stocks tend to have an 80 or higher RS Rating in the early stages of their moves.
Redwire is now considered extended and out of buy range after clearing an 8.23 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Redwire showed 0% EPS growth in its most recent report, while sales growth came in at 10%. Look for the next report on or around May 7.
The company holds the No. 54 rank among its peers in the Aerospace/Defense industry group. Elbit Systems, Espey Mfg & Elec 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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