The "Chart of the Day" is SBA Communications (SBAC), which showed up on Monday's Barchart "52-Week High" list. SBA Communications on Monday edged to a new 12-year high of $56.00 and closed up 1.63%. TrendSpotter has been long since June 15 at $53.72. In recent news on the stock, Barron's on May 20 mentioned SBA Communications as a stock that is a candidate for REIT conversion that could offer upside for investors. Macquarie on May 24 upgraded SBA Communications to Outperform from Neutral and raised its target to $60 from $56 based on valuation and growth. Canaccord on May 24 recommended buying cell tower stocks including SBA Communications because tower companies should benefit from cell carrier deployment of 4G LET nationwide networks and from upgrade activity at T-Mobile and Sprint. SBA Communications, with a market cap of $6.5 billion, is a leading independent owner and operator of wireless communications infrastructure in the United States.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "52-week Highs" page. That page shows all the stocks that have posted new 52-week highs, which is a popular sign of strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. 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: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 100% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.