Failed Breakout: Investors Should Hold off on Generac Holdings (GNRC) for Now

Generac Holdings stock (GNRC) experienced a breakout earlier this year, but has now fallen below the previous entry point of 133.15 from a cup with handle formation. This has made it a failed breakout, and investors should wait for a new base to form before establishing or adding to an existing position. Despite this setback, Generac Holdings has shown strong financial performance in recent quarters, with three quarters of accelerating earnings growth and rising revenue gains.

The company is expected to report its next quarterly numbers around May 1st and holds the No.13 rank among its peers in the Electrical Power/Equipment industry group. Other highly rated stocks in the industry include nVent Electric (NVT), Vertiv Holdings (VRT), and Gates Industrial (GTES). Given its recent RS Rating upgrade and financial performance indicators, Generac Holdings may be worth keeping an eye on for investors looking for top stocks to buy and watch.

MarketSurge’s tools such as IBD Live, SwingTrader, and growth stock research tools can provide valuable insights for individual investors looking to capitalize on short-term trends and identify top stocks.