The “Chart of the Day” is Molson Coors Brewing Company (TAP), which showed up on last Friday’s list of stocks that had a new “Buy” signal from the Barchart “Trendspotter(tm)” trading system. TAP on Friday rallied by 2.27% to break out to a new 1-year high. In recent news on the stock, Molson Coors on Sep 21 finalized an agreement to buy 51% in a joint venture with Hebei Si-Hai Beer Company of China, providing Molson Coors with a platform in China to promote various brands including Coors Light and regional Si’hai beers. On Aug 11, UBS added Molson Coors to its Most Preferred List. Molson Coors on Aug 3 reported Q2 EPS of $1.25, higher than the consensus of $1.20. Molson Coors, with a market cap of $7.5 billion, is the world’s fifth largest brewer with a broad portfolio of over 40 brands, including Molson Canadian, Coors Light and Carling.
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(tm) “Buy” category to obtain a list of all the stocks for which the Barchart Trendspotter(tm) 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(tm) help 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: 60% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 88% Buy
Chart of the Day provided by www.Barchart.com.
