The “Chart of the Day” is Elster Group (ELT), which showed up on Thursday’s Barchart “All Time High” list. Elster on Thursday posted an all-time high of $17.74 and closed up 0.52% at $17.29. A higher close within Thursday’s daily range would have been a more positive technical development, but any fresh rally to another new all-time high would be an indicator of fresh upward momentum. TrendSpotter is currently in a neutral mode but a close today above $17.42 would provide a new Buy signal. In recent news on the stock, Baird on Aug 1 reiterated its Outperform rating on Elster and raised its target to $21 from $18 due to solid Q2 results, strength in its gas metering segment, investment in new product development, and attractive margins. Elster Group, with a market cap of $2 billion, provides metering solutions to the gas, electricity and water industries. The Company also offers related communications, networking and software solutions.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “All Time 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 “All Time Highs” menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the “Percent” column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart’s Opinion trading systems are listed below. 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: Hold
- Short-Term Indicators: 40% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 72% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
