Thursday, April 2, 2015

Chruchill Downs - Barchar's Chart of the Day

Churchill Downs (CHDN) is the Barchart Chart of the Day.  The gaming company has a Trend Spotter buy signal, a Weighted Alpha of 38.37+, gained 27.51% in the last year and paid a .97% dividend.

The Chart of the Day belongs to Churchill Downs (CHDN).  I found the stock by sorting the All Time High list for the stocks with the highest technical buy signal, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 1/16 the stock gained 19.60%.

Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests.

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:

  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 4.94% in the last month
  • Relative Strength Index 76.64%
  • Barchart computes a technical support level at 114.42
  • Recently traded at 116.57 with a 50 day moving average of 105.58
Fundamental factors:
  • Market Cap $2.02 billion
  • P/E 29.86
  • Dividend yield .97%
  • Revenue expected to grow 40.80% this year and another 11.20% next year
  • Earnings estimated to increase 17.70% this year, an additional 60.00% next year and continue to increase at an annual rate of 12.00% for the next 5 years
  • Wall Street analysts issued 3 strong buy, 1 buy and 1 hold recommendation on the stock
None of the normal technical trading strategies have worked well on this stock without  creating excessive trading.  I'd advise you place a moving stop loss 10% below the recent high as an exit point

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