The “Chart of the Day” is IBM (IBM), which showed up on Wednesday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system. IBM on Wednesday closed 0.56% higher, moving above the narrow December trading range to post a new 1-1/2 month high. IBM on Wednesday’s high of $147.50 was just slightly below the early-Nov record high of $147.53. A breakout above that record high of $147.53 would be a particularly bullish technical development. In recent news on the stock, Bloomberg on Dec 29 reported that new U.S. food safety rules may benefit companies such as IBM and Oracle (ORCL) that provide computer systems to track food-related illnesses. Janney Capital on Dec 17 initial coverage on IBM with a Buy and a target of $165. IBM, with a market cap of $180 billion, is one of the world’s largest computer hardware and services companies.
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 “Buy” category to obtain a list of all the stocks for which the Barchart TrendSpotter 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 help page.
Barchart’s Opinion trading systems are all a Buy and Barchart’s daily TrendSpotter 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: 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.