The “Chart of the Day” is Carbo Ceramics (CRR), which showed up on Thursday’s Barchart “NYSE 10-year High” list. CRR on Thursday rallied by 0.45% and posted a new record high for the stock. TrendSpotter has been long CRR since Sep 3 at $80.54 ($4.42 below Thursday’s close of $84.96). In recent news on the stock, Capital One Southcoast upgraded CRR on Aug 27 to Add from Neutral based on valuation. CRR on July 29 reported Q2 EPS of 81 cents versus the consensus of 65 cents and raised its dividend for the 10th consecutive year by 11%. Carbo Ceramics, with a market cap of $1.9 billion, is the world’s largest producer of ceramicproppants for use in the hydraulic fracturing of natural gas and oil wells.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “NYSE Monthly 10-year High” list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the “New High/Lows” menu item on the left menu bar, then on the “Monthly” menu item on the top of the table, and then on the entry for NYSE 10-year highs. A stock that has posted a new 10-year high is showing strong 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.
