Hard to find good charts today but Barchart makes it easy. The Barchart Chart of the Day belongs the building materials company Foundation Building Materials (FBM). I found the stock by sorting Barchart's Top Stocks to Ownfirst by the most frequent number of new highs in the last month then I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 4/4 the stock gained 44.92%.
Foundation Building Materials, Inc. is a specialty distributor of wallboard and suspended ceiling systems primarily in U.S. and Canada. The Company's segments include Specialty Building Products and Mechanical Insulation. Specialty building products segment distributes wallboard and accessories, metal framing, suspended ceiling systems and other products. Mechanical insulation segment includes insulation solutions for pipes and mechanical systems. Foundation Building Materials, Inc. is based in Tustin, California.
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 website when you read this report.
Barchart technical indicators:
- 96% technical buy signal
- 26.30+ Weighted Alpha
- 6.36% gain in the last year
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 15 new highs and up 25.53% in the last month
- Relative Strength Index 81.02%
- Technical support level at 15.18
- Recently traded at 15.39 with a 50 day moving average of 11.77
Fundamental factors:
- Market Cap $675 million
- P/E 25.49
- Revenue expected to grow 8.50% this year and another 4.20% next year
- Earnings estimated to increase 114.60% this year, an additional 21.60% next year and continue to compound at an annual rate of 55.06% for the next 5 years
- Wall Street analysts issued 5 strong buy and 3 hold recommendations on the stock
- 363 investors are following the stock on Seeking Alpha
