The “Chart of the Day” is Gartner Inc. (IT), which showed up on Tuesday’s Barchart “Percent Advances” list. IT rallied sharply Tuesday up to a record high on heavy volume and finished the day up +10%. Barchart’s Trendspotter(tm) has been long IT for the past 2-weeks. IT surged on Tuesday after the company late Monday reported better-than-expected Q2 earnings and raised its fiscal year 2010 EPS estimate. On Tueday, Gartner then announced plans to buy back up to $500 million of its common stock under a newly authorized repurchase plan. Gartner Inc. with a market cap of $2.4 billion, is is an information technology research and advisory firm that helps clients understand technology and drive business growth. Gartner uses the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success.
We found the “Chart of the Day” by scanning the Barchart “Percent Advances” list. The Percent Advances list highlights stocks with largest price movements in percentage terms, allowing traders to quickly spot the big movers for the day. Then we used the filter pull-down to trim the list to just NYSE stocks. The list of the largest percent advancing stocks on the NYSE exchange can be directly accessed by clicking on the “NYSE Percent Advance” page.
Barchart’s Opinion trading systems are mostly a Buy and Barchart’s daily Trendspotter(tm) 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
Barchart links for further information:
Quotes and Charts, Technical Analysis, Barchart Opinions, and Chart of the Day Archives
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