Monday, November 4, 2013

Diamond Foods - Chart of the Day

Diamond Foods (DMND) is the Chart of the Day.  Back on 6/7 the snack nut distributor had a break out and has been trading above its 100 day moving average ever since.  It is up 59.69% since that break out.

The Chart of the Day is Diamond Foods (DMND).  The stock was right at the top of the New High List when I sorted it for frequency. The stock has a Weighted Alpha of 53.80 and is up 71.21% in the last year.

It is a branded food company specializing in processing, marketing, and distributing culinary, snack, in-shell and ingredient nuts under the Diamond of California and Emerald of California brands. Diamond's products include walnuts, pine nuts, pecans, peanuts, macadamia nuts, hazelnuts, cashews, Brazil nuts and almonds.

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 web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 18.60% in the last month
  • Relative strength Index 69.76
  • Barchart computes a technical support level at 24.10
  • Recently traded at 24.72 with a 50 day moving average of 22.37
Fundamental factors:
  • Market Cap $564.80
  • P/E 58.12
  • Revenue projected to grow 5.40% next year
  • Earnings estimated to increase by 2.50% this year, an additional 102.40% next year and continue to increase annually by 7.90% for the next 5 years
  • Wall Street analysts issued 1 strong buy and 6 hold recommendations
  • Financial Strength is C++
Watch the 50 day moving average closely for signs of weakness

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