GE Stock Jets To A New High. A Natural Gas Name Joins It.

GE Aerospace (GE) stock has recovered from a sell-off and recently hit a new high. Meanwhile, a natural gas name and McDonald’s (MCD) stock have also reached new levels.

All three are in buy zones with the earnings reports behind them. But two of the names have a weak trait on their charts.

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GE Stock Claws Back

Despite topping fourth-quarter earnings and sales forecasts, GE stock was punished by dropping more than 7% on Jan. 22. The jet engine maker’s revenue growth slowed to 18% from 21% and 24% in the prior two quarters.

After the shakeout, shares began climbing and broke out of a flat base with a 332.79 buy point on Feb. 19. The aerospace stock reached a record high of 348.48 on Wednesday. Shares are in a buy zone up to 349.43, according to MarketSurge pattern recognition.

GE stock has a Relative Strength Rating of 86, meaning it has outperformed 86% of stocks tracked by Investor’s Business Daily in the last 12 months.

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Atmos And McDonald’s Stock Have A Flaw

Natural gas distributor Atmos Energy (ATO) hit an all-time high on Friday. Shares are in a buy range up to 189.68 from a cup base buy point of 180.65. Demand for Atmos stock has been robust over the last 50 days as seen in its 2.3 up/down volume ratio. However, its RS Rating of 67 is below the 80 minimum that IBD seeks.

On Feb. 3, Atmos reported fiscal first-quarter earnings of $2.44 per share on sales of $1.34 billion. The natural gas company has been a steady profit grower as seen in its Earnings Stability factor of 2 out of 99 possible – with a lower number being better.

Friday’s session propelled McDonald’s stock to a record high. The fast-food giant is in a buy zone up to 342.64 in a long flat base with a 326.32 buy point. The Dow Jones index component’s profit and sales each grew 10% in the fourth quarter, the largest increases in eight quarters.

But McDonald’s stock has a weak 57 RS Rating and a mediocre 67 Composite Rating.

Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.

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