The “Chart of the Day” is Trinity Industries (TRN), which showed up on Tuesday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system. Trinity on Tuesday rallied by 5.55% to post a new 1-month high of $32.33. A rally above the 2-1/2 year high of $33.15 posted a month ago in February would be a particularly bullish technical signal. In recent news on the stock, Trinity on March 15 announced an order from GATX (GMT) for 12,500 newly built railcars that will be delivered over a 5-year period. Wells Fargo on March 9 reiterated its Outperform rating on Trinity and said the company should benefit from an increase in railcar orders in 2011. Trinity on Feb 16 reported Q4 EPS of 22 cents versus the consensus of 20 cents and provided guidance for the first half of 2011 of 45-60 cents. Trinity Industries, with a market cap of $2.4 billion, is one of the world’s largest manufacturers of railcars.
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 mostly 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: 80% Buy
- Medium-Term Indicators: 75% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 88% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
