Thursday, June 16, 2016

Allete - Chart of the Day

Allete (ale) is the Barchart Chart of the Day.  The electric utility has a Trend Spotter buy signal, a Weighted Alpha of 27.20+, gained 26.63% in the last year and paid a 3.39% dividend.

The Chart of the Day belongs to Allette (ALE).  I found the electric utility 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.  Next I used the Flipchart feature to review the charts for consistency.

Allete is an energy company. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, Allete owns Allete Clean Energy, based in Duluth, U.S. Water Services headquartered in St. Michael, Minn., BNI Energy in Center, N.D., and has an eight percent equity interest in the American Transmission Co.

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:

  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 6.38% in the last month
  • Relative Strength Index 66.54%
  • Technical support level at 59.85
  • Recently traded at 60.54 with a 50 day moving average of 56.87
Fundamental factors:
  • Market Cap $2.98 billion
  • P/E 20.40+
  • Dividend yield 3.39%
  • Revenue expected to be down 8.90% this year but up again by 1.50% next year
  • Earnings estimated to increase 4.20% this year, an additional 10.00% next year and continue to compound annually at the rate of 3.00% for the next 5 years
  • Wall STreet analysts issued 1 strong buy, 2 buy, 2 hold and 1 under perform recommendation on the stock

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