The “Chart of the Day” is Revlon (REV), which showed up on last Friday’s Barchart “NYSE 12-Month High” list. Revlon last Friday rallied by 3.88% and posted a new 1-1/2 year high of 18.82. TrendSpotter has been Long on Revlon since June 29 at $16.85. A rally above the 5-year high of 18.89 posted in Dec 2009 would be a particularly bullish technical development. In recent news on the stock, BMO Capital on June 7 reiterated its Outperform rating on Revlon and said the company’s multiple could expand due to increased U.S. sales. Revlon, with a market cap of $940 million, sells an extensive array of cosmetics and skin care, fragrances and personal care products.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “New Highs/Lows” page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. We then clicked on the “12-Month # Highs” column heading twice in order to sort the list in ascending order. Stocks with the fewest number of 12-month highs over the past 12 months are stocks that have only recently broken out to a new 12-month high and may have better upside potential then stocks that have already rallied sharply and have posted many new 12-month highs.
Barchart’s Opinion trading systems are mostly 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: 60% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 88% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
