The “Chart of the Day” is H.J. Heinz (HNZ), which showed up on Friday’s “Barchart Top 100 Stocks” list. Heinz on Friday rallied by 0.93% and posted a new 2-year high of $48.20. A further 62-cent rally above the record high of 48.82 posted in Sep 2008 would be a particularly bullish technical signal. Trendspotter(tm) on the monthly chart has been long Heinz since March 2010 at $45.16. In recent news on the stock, Barrons on Sep 1 recommended buying the shares based on cheap valuation of 14 times earnings, a return on equity above 58%, a hefty dividend yield of 3.9%, and a consistent record of outperforming its peers. The company is actively looking for acquisitions in emerging markets, an area that has boosted profits in recent years.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “Signals – Top 100 Stocks” list. The Top 100 Stocks ranks stocks by a combination of their overall opinion, signal strength and signal direction to come up with a list of the top 100 stocks by opinion. Each analytic used within the signals is rated by signal strength and direction. The strengths are allocated 10, 20, 30, 40 or 50 points; the directions are allocated 1, 2, 3, 4 or 5 points. This gives a maximum of 55 points per signal. The totals are added up depending on buy, sell and hold rating and ranked 1 to 100 for the top 100 bullish stocks and the top 100 bearish stocks. The signal strength and signal direction ratings are available from the advanced opinion pages. Signal strength and signal direction are independent of the signals rating.
Barchart’s Opinion trading systems are all 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
Chart of the Day provided by www.Barchart.com.
