Monday, May 4, 2015

AMC Networks -- New All Time High

AMC Networks (AMCX) is the Barchart Chart of the Day.  The cable TV content production stock has a Trend Spotter by signal, a Weighted Alpha of 44.10 and gained 22.28% in the last year.

The Chart of the Day belongs to AMC Networks (AMCX).  I found the stock by sorting the All Time High list for the stock with the best technical buy signals then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 12/22 the stock gained 18.77%

AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women's network specially devoted to the relationships during life's defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience.

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 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
  • 7 new highs and up 6.23% in the last month
  • Relative Strength Index 67.88%
  • Barchart computes a technical support level at 75.25%
  • Recently traded at 80.02 with a 50 day moving average of 74.60
Fundamental factors:
  • Market Cap $5.76 billion
  • P/E 19.24
  • Revenue expected to grow 16.30% this year and another 6.60% next year
  • Earnings estimated to increase 27.50% this year, an additional 11.00% next year and continue to compound at an annual rate of 12.00% for the next 5 years
  • Wall Street analysts issued 3 strong buy, 5 buy and 8 hold recommendations on the stock
The 100 Day moving average vs the price has been an effective technical trading strategy for this stock and should continue to be used to gauge an exit point.

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