The “Chart of the Day” is Genuine Parts Co. (GPC), which showed up on Tuesday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system and also on the Barchart “All Time High” list. Genuine Parts on Tuesday rallied by 1.58% and posted a new all-time high of $55.30. In recent news on the stock, Genuine Parts on April 15 reported Q1 EPS of 80 cents versus the consensus of 75 cents. Goldman Sachs downgraded Genuine Parts on April 21 to Sell from Neutral and cut its target to $52 from $56 due to valuation and slower earnings growth, although that did not stop Genuine Parts from rallying to a new all-time high. Genuine Parts, with a market cap of $8.4 billion, is a distributor of automotive replacement parts in the U.S., Canada and 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: 10% Buy
- Long-Term Indicators: 100% Buy
- 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.
