The Chart of the Day belongs to Daqo New Energy (DQ). I found the poly silicon stock by using Barchart to sort today's Top Stocks to Own list first by the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 9/1 the stock gained 89.96%.
Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People's Republic of China.
The status of 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.
Barchart technical indicators:
- 174.85+ Weighted Alpha
- 100% technical cal buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 33.86% in the last month
- Relative Strength Index 74.83%
- Technical support level at 47.45
- Recently traded at 49.45 with a 50 day moving average of 34.84
- Market Cap $487 million
- P/E 7.61
- Revenue expected to grow 48.40% this year but decrease 12.20% next year
- Earnings estimated to increase 91.50% this year but decrease 30.50% next year and will compound at an annual rate of 7.00% for the next 5 years
- Wall Street analysts issued 3 strong buy recommendations on the stock