The “Chart of the Day” is VMware (VMW), which showed up on Tuesday’s Barchart “NYSE 12-month High” list. VMware on Tuesday rallied by 5.20% and posted a new 3-1/2 year high, breaking out from a 2-week consolidation range. TrendSpotter has been Long on VMware since June 30 at $100.23. VMware on Tuesday reported Q2 EPS of 52 cents versus expectations of 47 cents. ThinkEquity on July 31 reiterated its Buy recommendation and raised its target to $115 from $110. VMware, with a market cap of $42 billion, provides virtualization solutions, enabling organizations to aggregate multiple servers, storage infrastructure and networks together into shared pools of capacity that can be allocated to applications as needed, increasing hardware utilization and reducing spending. They have expanded their offering to areas of system recoverability and reliability, backup and recovery, resource provisioning and management, capacity and performance management, and desktop security.
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 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: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
