The “Chart of the Day” is Teekay LNG Partners (TGP), which showed up on Barchart’s “NYSE 12-month High” list on Friday and also had a 100% Barchart Opinion rating. TGP on Friday rallied by +0.81% and posted a new record high for the stock, which has history back to May 2005. Barchart’s Trendspotter(tm) trading system program on a weekly basis was long TGP from June 2009 (entry $17.80) through May 2010 (exit 26.90), taking a profit of $9.10 per share or 51%. Trendspotter was neutral for about 7 weeks and then issued a Buy signal again in the week of June 14 at $30.03. Teekay LNG Partners, with a market cap of $1.4 billion, is a partnership formed by Teekay Shipping Corporation as part of its strategy to expand its operations in the liquefied natural gas shipping sector. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers.
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 all a Buy 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
