The “Chart of the Day” is Syngenta Ag (SYT), which showed up on last Friday’s list of stocks that had a new “Buy” signal from the Barchart “Trendspotter(tm)” trading system. Syngenta on Friday gapped higher, showing up on Barchart’s “Gap Up” list, posting a new 6-month high, and closing 4.43% higher. The technical picture would turn particularly bullish if Syngenta can extend the rally to take out the 2-1/4 year high of $56.54 posted in November 2009. With a market cap of $24 billion, Syngenta is one of the world’s largest crop chemical and seed company. Last Friday’s rally in Syngenta was sparked in part by the sharp rally in corn, soybean and wheat prices on the USDA’s cut in U.S. crop sizes and end-year inventory estimates, with higher crop prices giving farmers more revenue to spend on chemicals and high-priced biotech seeds and potentially increasing planted acres next spring.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “Trading Signals” page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter(tm) “Buy” category to obtain a list of all the stocks for which the Barchart Trendspotter(tm) trading system has just turned to a buy. We then clicked on the “Today’s Opinion” column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter(tm) help page.
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
Chart of the Day provided by www.Barchart.com.
