The “Chart of the Day” is Netsuite (N), which showed up on Tuesday’s Barchart “12-month high” list. Netsuite on Tuesday rallied by 2.10% and posted a new 2-year high. Trendspotter(tm) has been long Netsuite since July 22 at $14.75 per share. In recent news on the stock, ThinkEquity on Aug 25 initiated coverage on Netsuite with a Hold and a target of $20, but said that the company is well positioned to increase its market share. Needham on Aug 17 initiated coverage with a Buy and a target of $20. Credit Suisse on Aug 12 initiated coverage with an Outperform rating. The increase in research coverage is a bullish factor for Netsuite since it draws more attention to the stock from institutional investors. Netsuite, with a market cap of $1.1 billion, provides online business management software, including customer relationship management; order fulfillment; inventory; accounting and finance, product assembly; ecommerce; Web site management; and employee productivity.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “New Highs/Lows” page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. Then we applied a “Custom View” heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
Barchart’s Opinion trading systems are mostly a Buy and Barchart’s daily Trendspotter(tm) trading system is a “Buy.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- Trendspotter: Buy
- Short-Term Indicators: 80% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% Buy
Barchart links for further information:
Quotes and Charts, Technical Analysis, Barchart Opinions, and Chart of the Day Archives
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