The “Chart of the Day” is Priceline.com (PCLN), which showed up on Wednesday’s Barchart “NYSE 12-month high” list. Priceline.com gapped higher on Wednesday on heavy volume to close up 22% at a new record high. Barchart’s Trendspotter(tm) has been long PCLN for the past 3-weeks. Priceline.com rallied sharply after the company late Tuesday reported favorable Q2 earnings and higher-than-expected guidance for Q3. Several brokerage firms upgraded the stock and raised their price estimates. Priceline.com, with a market cap of $10.7 billion, is a global e-commerce company that uses a “demand collection system” that enables consumers to use the Internet to save money on a wide range of products and services.
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: 33% Buy
- Overall Average 88% Buy
Barchart links for further information:
Quotes and Charts, Technical Analysis, Barchart Opinions, and Chart of the Day Archives
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