Generac Holdings (GNRC) stock received an upgrade in its Relative Strength (RS) Rating from 79 to 83 on Thursday. The RS Rating is a proprietary measure by IBD that identifies market leadership with a score ranging from 1 to 99. This rating indicates how a stock’s price performance over the past 52 weeks compares to other stocks in the database. Stocks with an RS Rating of at least 80 tend to make significant gains, based on historical data.
Generac Holdings stock recently experienced a breakout, but it has retreated below the previous entry point of 133.15 from a cup with handle pattern. When a stock breaks out but drops 7% or more below the entry level, it is considered a failed breakout. In such cases, it is advisable to wait for a new base pattern to form before considering a position. The current pattern is a later-stage base, increasing the risk of establishing or adding positions.
In terms of financial performance, Generac Holdings has shown three consecutive quarters of increasing earnings growth and rising revenue. The company is expected to report its next quarterly results around May 1. Within the Electrical Power/Equipment industry group, Generac Holdings stock holds the 13th position among its peers. Other highly rated stocks in the group include nVent Electric (NVT), Vertiv Holdings (VRT), and Gates Industrial (GTES).
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