The “Chart of the Day” is Red Hat (RHT), which showed up on last Friday’s “Barchart Top 100 Stocks” list with a 100% Buy Barchart Opinion rating. Red Hat on Friday rallied by 1.80% and posted a new 10-year high. Barchart’s monthly Trendspotter(tm) trading system has been long Red Hat since November 2009 at $26.70. The rally late last week was sparked by rumors of a big contract win, along with support from ongoing speculation that SAP may be interested in buying Red Hat. Red Hat, with a market cap of $6.2 billion, is the developer and provider of open source software and services, including the Red Hat Linux operating system.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “Signals – Top 100 Stocks” list. The Top 100 Stocks ranks stocks by a combination of their overall opinion, signal strength and signal direction to come up with a list of the top 100 stocks by opinion. Each analytic used within the signals is rated by signal strength and direction. The strengths are allocated 10, 20, 30, 40 or 50 points; the directions are allocated 1, 2, 3, 4 or 5 points. This gives a maximum of 55 points per signal. The totals are added up depending on buy, sell and hold rating and ranked 1 to 100 for the top 100 bullish stocks and the top 100 bearish stocks. The signal strength and signal direction ratings are available from the advanced opinion pages. Signal strength and signal direction are independent of the signals rating.
Barchart’s Opinion trading systems are all 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
Barchart links for further information:
Quotes and Charts, Technical Analysis, Barchart Opinions, and Chart of the Day Archives
Free membership on http://www.Barchart.com:
Get Portfolio Builder, Advanced Screeners for Stocks, ETFs, Futures, Forex, Historical Data Download, Chart Builder, and more.
