The “Chart of the Day” is Tim Hortons (THI), which showed up on last Friday’s list of stocks that had a new “Buy” signal from the Barchart daily “TrendSpotter” trading system. THI last Friday rallied by 1.27% to post a new 1-month high of 37.66. A decisive breakout above the 3-year high of $37.67 posted last month would be a particularly bullish technical signal. TrendSpotter on a weekly basis has been long THI since July 2009 at 26.69 (to see this, just pull up a weekly technical chart for THI and select TrendSpotter as the technical overlay). In recent news on the stock, Morgan Joseph on Sep 29 initiated coverage on THI with a Buy. Tim Hortons, with a market cap of $6.4 billion, is Canada’s largest quick service restaurant chain and features coffee, fresh-baked goods, soups and sandwiches and the company has been expanding into the U.S.
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 “Buy” category to obtain a list of all the stocks for which the Barchart TrendSpotter 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 help page.
Barchart’s Opinion trading systems are all a Buy and Barchart’s daily TrendSpotter 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.
