The “Chart of the Day” is ConAgra Foods (CAG), which showed up on Tuesday’s Barchart “NYSE 12-Month High” list. ConAgra on Tuesday rallied by 0.65% and matched last Thursday’s all-time high of $26.50. TrendSpotter has been Long on ConAgra since June 28 at $25.72. In recent news on the stock, Goldman Sachs on June 27 upgraded ConAgra to Buy from Neutral and raised the price target to $31 from $28 on capital allocation opportunities including acquisitions and buybacks. ConAgra Foods, with a market cap of $10.7 billion, is a major food company that operates in two main divisions: Consumer Foods and Commercial 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: 80% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
