The “Chart of the Day” is Itron Inc (ITRI), which showed up on Thursday’s list of stocks that had a new “Buy” signal from the Barchart “Trendspotter(tm)” trading system. Itron on Thursday rallied by 1.59% and posted a new 1-3/4 month high. Itron on Thursday also showed up on the Barchart “Gap Up” list. The Barchart Opinion Indicators are swinging to the bullish side with the Short-Term Indicators Opinion at a 100% Buy while the Long-Term Opinion is lagging at a 67% Sell since Itron is just coming off last month’s 1-year low. In recent news on the stock, Itron was mentioned positively at Canaccord on Sep 2, but was downgraded to Sector Perform from Outperform on Sep 1 by PacCrest due to concern about competition and muted international opportunities. Itron on Sep 1 announced a strategic alliance with Cisco (CSCO) to build an IP-based smart electric grid network. Itron, with a market cap of $2.4 billion, is the world’s largest manufacturer of smart electric meters and is also a major manufacturer of water and gas meters.

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How we found the Chart of the Day:

We found the “Chart of the Day” by scanning the Barchart “Trading Signals” page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter(tm) “Buy” category to obtain a list of all the stocks for which the Barchart Trendspotter(tm) trading system has just turned to a buy. We then clicked on the “Today’s Opinion” column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter(tm) help page.

Barchart’s Opinion trading systems are mixed 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: 100% Buy
  • Medium-Term Indicators: 50% Buy
  • Long-Term Indicators: 67% Sell
  • Overall Average 48% Buy

Chart of the Day provided by www.Barchart.com.