The “Chart of the Day” is Tempur-Pedic International (TPX), which showed up on Wednesday’s Barchart “NYSE 12-month high” list. TPX rallied up to an all-time high Wednesday of $69.05 and finished the day up +1.1%. Trendspotter ™ has been long TPX for the past week at $65.69. On Wednesday at the Piper Jaffray Consumer Conference, CFO Dale Williams of TPX said the company had a record year in profits last year and that they’re on pace to do significantly better this year. Williams expects China sales to be over $50 million a year by 2014, up from $5 million last year. He said Q1 gross margins for TPX this year were over 52%, above their goal of 50% and that ongoing productivity initiatives should contine to generate 150 bp to 175 bp of improvement a year. Tempur-Pedic International, with a market cap of $4.499 billion is a vertically-integrated manufacturer, marketer and distributor of premium mattresses and pillows made from its proprietary Tempur visco-elastic foam. Products are sold in 54 countries under the Tempur and Tempur-Pedic brands.
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: 40% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 80% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
