The “Chart of the Day” is CNH Global NV (CNH), which showed up on Monday’s Barchart “NYSE 12-month High” list. CNH on Monday rallied sharply by 5.37% to post a new 2-1/2 year high. TrendSpotter just issued a Buy signal for CNH last Thursday at $43.79. TrendSpotter just took an 18% profit from CNH with a long trade from $33.15 (Sep 3) to $39.01 (Nov 1). In recent news on the stock, CNH on Oct 21 reported Q3 EPS of 43 cents (versus the consensus of 34 cents) and said that it sees FY-2010 global construction equipment markets up 40-45%. CNH, with a market cap of $10.4 billion, is the number one manufacturer of agricultural tractors and combines in the world and the third largest maker of construction equipment.
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. Then we applied a “Custom View” heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
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.
