The “Chart of the Day” is OM Group (OMG), which showed up on Tuesday’s Barchart “NYSE 12-Month High” list. OM Group on Tuesday rallied by 4.43% and posted a new 3-year high of $40.10. TrendSpotter has been Long on OM Group since April 29 at $36.24. In recent news on the stock, Northcoast on June 8 upgraded OM Group to Buy from Neutral. OM Group on May 5 reported Q1 EPS of $1.01 versus the consensus of 62 cents and management reiterated a positive outlook for its business markets. OM Group, with a market cap of $1.2 billion, produces value-added metal-based specialty chemicals and powders.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “New Highs/Lows” page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum.
Barchart’s Opinion trading systems are mostly 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: 100% Buy
- Long-Term Indicators: 33% Buy
- Overall Average 88% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
