The “Chart of the Day” is Polaris Industries (PII), which showed up on Tuesday’s Barchart “NYSE 12-month high” list. PII rallied sharply Tuesday to an all-time high of $73.24 on heavy volume and finished the day up +4.1%. Barchart’s Trendspotter(tm) has been long PII for the past 5 weeks at a price of $58.12. PII rallied Tuesday after the company reported Q3 EPS of $1.37 versus consensus of $1.14 and raised its fiscal year 2010 EPS to $4.17-$4.20 versus market consensus of $3.87. The company credited its results and improved outlook to better margins and new product introductions, despite continued weakness in the economy and consumer demand. Also Tuesday, PII said it had been selected by the National Guard Bureau to provide Ultra-Light Utility Vehicles to the Army National Guard with a contract valued at $67 million. Polaris Industries, with a market cap of $2.3 billion, designs, engineers and manufactures snowmobiles, all terrain vehicles, motorcycles and personal watercraft and markets them, together with related replacement parts, garments and accessories through dealers and distributors. The company’s line of all terrain vehicles consist of fourteen models includes general purpose, sport and four-wheel drive utility models. The company produces a full line of snowmobiles, consisting of thirty-three models, ranging from utility and economy models to performance and competition models.
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. Then we applied a “Custom View” heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
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
Chart of the Day provided by www.Barchart.com.
