The “Chart of the Day” is Randgold Resources (GOLD), which showed up on Monday’s “Nasdaq 6-Month High” list. Randgold on Monday rallied by 4.18% and posted a new 10-month high of $98.45. Randgold on Monday rallied on the new record high in gold and on Deutsche Bank’s upgrade of Randgold to Buy from Hold due to the company’s new mine activity and the favorable environment for gold. TrendSpotter has been Long on Randgold since June 29 at $83.34. Randgold Resources, with a market cap of $8.5 billion, is an international gold mining and exploration business with mines and prospective exploration projects mainly in Africa.
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 Nasdaq 6-month highs. A new 6-month high is a sign of upside momentum.
Barchart’s Opinion trading systems are all 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: 100% Buy
- Overall Average 100% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
