The “Chart of the Day” is The Andersons (ANDE), which showed up on Wednesday’s “Barchart Nasdaq 12-month High” list. Andersons on Wednesday rallied by 1.54% and posted a new 2-year high. Trendspotter(tm) has been long The Andersons since July 23 at $34.66. The Andersons, with a market cap of $725 million, is an agricultural processing and services company. Andersons is benefiting from this year’s bumper crops in the U.S. In recent news on the stock, Morgan Joseph on Aug 30 initiated research coverage on The Andersons with a Buy rating and a $48 target. Andersons on Aug 4 reported Q2 EPS of $1.36, well above the analyst consensus of $1.17.
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 12-month highs. A new 12-month high is a popular sign of upside momentum.
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.
