The “Chart of the Day” is WisdomTree Investments (WETF), which showed up on Thursday’s Barchart “Nasdaq 12-month High” list. WisdomTree on Thursday rallied sharply by 7.49% and posted a new all-time high. TrendSpotter has been Long on WisdomTree since Aug 12 at $8.05. In recent news on the stock, Piper Jaffray on Thursday initiated coverage on WisdomTree with an Overweight rating and a target of $9.75. WisdomTree Investments, with a market cap of $927 million, is an asset management firm that sponsors exchange-traded funds and other financial products.
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 Nasdaq 12-month highs. A new 12-month high is a popular sign of upside momentum. We then clicked on the “12-Month # Highs” column heading twice in order to sort the list in ascending order. Stocks with the fewest number of 12-month highs over the past 12 months are stocks that have only recently broken out to a new 12-month high and may have better upside potential then stocks that have already rallied sharply and have posted many new 12-month highs.
Barchart’s Opinion trading systems are listed below. 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% Sell
- Overall Average 100% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
