The “Chart of the Day” is Verisign (VRSN), which showed up on Friday’s list of stocks that had a new “Buy” signal from the Barchart “TrendSpotter” trading system. Verisign last Friday rallied by 2.68%, adding to the previous session’s 3.5% rally and posting a new 3-year high of $35.67. A rally above the 9-1/2 year high of $36.09 posted in June 2008 would be a particularly bullish technical development. In recent news on the stock, Verisign on April 28 reported in-line EPS of 32 cents and declared a special dividend of $2.75 per share. CLSA on April 12 reiterated its Outperform rating on Verisign and raised its target to $41 from $38 due to strong domain registration trends and the renewal of the .NET and .COM registry contracts. Verisign, with a market cap of $6 billion, provides infrastructure services to website owners, enterprises, electronic commerce service providers and individuals.
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.