The Barchart Chart of the Day belongs to the computer optics company Mitek Systems (MITK). I found the stock by using Barchart to sort the stocks hitting New 52 Week Highs today (of which there were only 3!) and then sorted for the most frequent number of new highs. As always I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 12/11 the stock gained 5.12%.
Mitek Systems, Inc. is primarily engaged in the development and sale of software products with particular focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets. They develop, market and support what they believe to be the most accurate Automated Document Recognition (ADR) products commercially available for the recognition of hand printed characters.
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 website when you read this report.
Barchart technical indicators:
- 96% technical buy signals
- 26.00+ Weighted Alpha
- 22.06% gain in the last year
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 7 new highs and up 10.77% in the last month
- Relative Strength Index 64.05%
- Technical support level at 10.08
- Recently traded at 10.70 with a 50 day moving average of 9.39
Fundamental factors:
- Market Cap $398 million
- P/E 100.40
- Revenue expected to grow 32.90% this yeat and another 14.50% next year
- Earnings estimated to compound at an annual rate of 15.00% for the next 5 years
- Wall Street analysts issued 2 strong buy and 3 buy recommendations on the stock
- The individual investors following the stock on Motley Fool voted 107 to 12 that the stock will beat the market
- 6,086 investors are following the stock on Seeking Alpha
