The Chart of the Day belongs to Oclaro (OCLR). I found the optical fiber stock by using Barchart to sort the Russell 3000 Index stocks first for the highest Weighted Alpha and then for stocks trading above their 20, 50 and 100 day moving averages. Since the Trend Spotter signaled a buy on 12/17 the stock gained 3.18%.
Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. Its photonic technologies also serve selected potential high growth markets, including industrial, defense, life sciences, semiconductor, and scientific, with diversification providing both significant potential revenue streams and strategic technological advantage. Oclaro is a global company, with leading chip fabrication facilities in the UK, Switzerland and Italy, and manufacturing sites in the US, Thailand and China.
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:
- 56% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 3 new highs and up 11.60% in the last month
- Relative Strength Index 56.25%
- Technical support level at 3.36
- Recently traded at 3.57 with a 50 day moving average of 3.33
- Market Cap $395.38 million
- Revenue expected to grow 7.20% this year and another 12.20% next year
- Earnings estimated to increase 89.50% this year, an additional 350.00% next year and continue to compound at an annual rate of 10.00% for the next 5 years
- Wall Street analysts issued 1 strong buy and 4 buy recommendations on the stock