The “Chart of the Day” is Macquarie Infrastructure Company Trust (MIC), which showed up on Monday’s Barchart “NYSE 12-Month High” list. Macquarie Infrastructure on Monday rallied by 5.43% and posted a new 3-year high. TrendSpotter has been long on Macquarie Infrastructure since April 28 at $24.36. In recent news on the stock, BB&T initiated coverage on Macquarie Infrastructure with a Buy rating and a target of $30 due to valuation, solid free cash flow, and high barriers to entry. Macquarie Infrastructure, with a market cap of $1.1 billion, operates an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar), a district energy business (Thermal Chicago and Northwind Aladdin), and a UK regulated water utility.
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.
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.
