The “Chart of the Day” is W.W. Grainger (GWW), which showed up on Monday’s Barchart “All Time High” list. Grainger on Monday rallied by 1.72% and posted a new all-time high of $148.17. Grainger may need to consolidate and fill Monday’s gap, but a rally above Monday’s high of $148.17 would be a particularly bullish technical signal. TrendSpotter has been long on Grainger since March 9 at $137.08. Grainger on Monday reported Q1 EPS of $2.18, far above the analyst consensus of $1.79. The company also raised its 2011 EPS guidance to $8.10-$8.60 versus the consensus of $7.90. W.W. Grainger, with a market cap of $9.9 billion, is a leading supplier of facilities maintenance products as well as industrial, safety and fastener products.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “All Time High” list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the “All Time Highs” menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the “Percent” column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
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.
