The “Chart of the Day” is Fortune Brands (FO), which showed up on last Friday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system. Fortune Brands last Friday rallied sharply by 7.76% and posted a new 2-year high. TrendSpotter was recently long FO from Aug 27 ($44.56) until Nov 3 ($53.00), taking a profit of 19%. TrendSpotter then turned neutral for 7 sessions before issuing last Friday’s Buy signal on the upside breakout. Fortune Brands last Friday rallied on takeover speculation sparked by pressure from activist shareholder William Ackman. Fortune Brands, with a market cap of $8.2 billion, is a holding company with subsidiaries engaged in the manufacture and sale of home products (plumbing accessories, security devices and tool storage products), office products (stapling equipment, computer accessories and supplies), golf products and spirits and wine.
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.
