The “Chart of the Day” is El Paso Electric (EE), which showed up on Tuesday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system and also on Barchart’s “All Time High” list. El Paso on Tuesday extended the 1-week rally and closed +1.04% after posting a new all-time high of $35.32. In recent news on the stock, Goldman Sachs on Aug 16 upgraded El Paso Electric to Conviction Buy from Buy due to dividend growth and stock buybacks. Deutsche Bank on Aug 9 upgraded El Paso to Buy from Hold, but Ticonderoga on Aug 4 downgraded El Paso to Neutral from Buy due to valuation concerns. El Paso on Aug 3 reported Q2 EPS of 78 cents, well above the consensus of 63 cents. El Paso Electric, with a market cap of $1.5 billion, sells electricity in west Texas and southern New Mexico.
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% Sell
- 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.
