Ellie Mae - Barchart's Chart of the Day

Ellie Mae (ELLI) is the Barchart Chart of the Day. The electronic mortgage origination network has a Trend Spotter buy signal, a Weighted Alpha of 39.70+ and gained 35.94% in the last year.

The Chart of the Day belongs to Ellie Mae (ELLI).  I found the stock by sorting the New High List for new high frequency in the last month then used the Flipchart feature to find the chart I liked. Since the Trend Spotter signaled a buy on 5/12 the stock gained 21.79%.

ELLI operates electronic mortgage origination networks in the United States. The Company's network and technology-enabled solutions help streamline and automate the mortgage origination process. Solutions offered by Ellie include Encompass software, a comprehensive operating system that handles key business and management functions involved in running a mortgage origination business, and serves as a gateway to the Ellie Mae Network. Through its solutions the Company also offers services like: automated preparation of the disclosure and closing documents; electronic document management and websites and electronic connectivity. Ellie Mae, Inc. is headquartered in Pleasanton, California.

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:

• 88% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 19 new highs and up 19.99% in the last month
• Relative Strength Index 21.37%
• Barchart computes a technical support level at 31.47%
• Recently traded at 32.30 with a 50 day moving average of 27.51

Fundamental factors:

• Market Cap $901.82 million
• P/E 81.67
• Revenue expected to grow 17.40% this year and another 22.10% next year
• Earnings are estimated to increase 31.60% next year and continue to increase at an annual rate of 22.23% for the next 5 years
• Wall Street analysts issued 1 strong buy, 3 buy and 5 hold recommendations on the stock

As the housing market returns to normal this might be a good long term stock.  I'd still exit at the 100 day moving average