The “Chart of the Day” is Ariba Inc (ARBA), which showed up on Monday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system. Ariba on Monday broke out above heavy resistance at $20 to close 7.38% higher at a new 7-3/4 year high. Ariba rallied on Monday on technical buying with the upside breakout and on Roth Capital’s upgrade of Ariba to a Buy and the hike in its target price to $24 from $20. “Chart of the Day’ previously featured Ariba on January 5, 2010, when the stock in the previous session appeared on Barchart’s “What’s Hot” list, closed up 3.2 standard deviations at $12.87, and posted a 15-month high. Ariba, with a market cap of $1.7 billion, provides electronic commerce solutions for a company’s operational needs.
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.
