Wednesday, May 18, 2016

Alleghany - Chart of the Day

Alleghany (Y) is the Barchart Chart of the Day  The P&C insurer has a Trend spotter buy signal, a Weighted Alpha of 11.10+ and gained 8.48% in the last year.

The Chart of the Day is Alleghany (Y).  I found the P&C insurance stock by using Barchart to sort today's All Time High list first for the most frequent number of new highs in the last month then again for technical buy signals of 80% or more.  I use the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 3/1 the stock gained 9.28%.

Alleghany is engaged, through its subsidiaries Chicago Title and Trust Company (``CT&T``), Chicago Title Insurance Company (``CTI``), Security Union Title Insurance Company (``Security Union``) and Ticor Title Insurance Company (``Ticor Title``) and their subsidiaries, in the sale and underwriting of title insurance and in other real estate-related services businesses, and through CT&T's subsidiary, Alleghany Asset Management, Inc. (``Alleghany Asset Management``) and its subsidiaries, in certain other financial services businesses.

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:

  • 80% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 3.87% in the last month
  • Relative Strength Index 63.67%
  • Technical support level at 517.51
  • Recently traded at 525.31 with a 50 day moving average of 504.72
Fundamental factors:
  • Market Cap $8.12 billion
  • P/E 16.02
  • Revenue expected to grow 9% next year
  • Earnings estimated to decrease 4.70% this year and another 5.40% next year but compound annually at a rate of 8.50% for the next 5 years
  • Wall Street analysts issued 1 strong buy and 2 hold recommendations on the stock

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