Thursday, December 17, 2015

MGP Ingredients - Chart of the Day

MGP Ingredients (MGPI) is the Barhart Chart of the Day.  The alcohol and alcohol products company has a Trend Spotter buy signal, a Weighted Alpha of 81.51+ and gained 55.32% in the last year.

The Chart of the Day belongs to MGP Ingredients (MGPI).  I found the alcohol and alcohol products stock by using Barchart to sort the Russell 3000 Index stocks first for  the highest number of new highs in the last 20 trading sessions than again for technical buy signals of 80% or better.  I use the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 9/17 the stock gained 48.91%.

MGP Ingredients, Inc. produces and markets ingredients and distillery products to the packaged goods industry. Its Distillery Products segment primarily offers food grade alcohol, fuel grade alcohol, and distillers feed. The company's Ingredient Solutions segment primarily provides specialty wheat starches and proteins, commodity wheat starches, and commodity vital wheat gluten. MGP Ingredients, Inc. is headquartered in Atchison, Kansas.

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
  • 14 new highs and up 33.81% in the last month
  • Relative Strength Index 84.51%
  • Barchart computes a technical support level at 22.36
  • Recently traded at 24.54 with a 50 day moving average of 19.00
Fundamentals and investor sentiment:
  • Market Cap $433.62 million
  • P/E 14.59
  • Dividend yield .27%
Investor sentiment ( When Wall Street doesn't follow a stock I use other means to evaluate)
  • Only 1 analysts follows the stock with a strong buy put no revenue and earning projections released
  • On Motley Fool the individual investors voted 94 to 83 for the stock to beat the market
  • On TheStreet Jim Cramer's staff rate it a B+ buy
  • Institutional investors own 42.49% of the outstanding shares and 29 bought shares and 2 sold in the last year.
None of the regular technical trading strategies have been reliable so if you own the stock I suggest a trailing stop loss 10% off the recent high to preserve gains.

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