Thursday, June 9, 2016

Arrow Electronics - Chart of the Day

Arrow Electronics (ARW) is the Barchart Chart of the Day.  The electronics distribution company has a Trend spotter buy signal, a weighted Alpha of 23.60+ and gained 17.02% in the last year.

The Chart of the Day belongs to Arrow Electronics (ARW).  I found the electronics distributor by using Barchart to sort today's All Time High list first by the most frequent new highs in the last month, ten again for technical buy signals of 80% or more.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 5/27 the stock gained 6.07%

Arrow Electronics, Inc. is the world's largest distributor of electronic components and computer products to industrial and commercial customers. The company is a major global provider of products, services, and solutions to industrial and commercial users of electronic components and computer products. The company offers sales, service, and technical support capabilities that not only enable the company to provide the most powerful line card to their customers, but to be their strategic business partner as well. Through a wide range of value-added services, the company assists their customers reduce their time to market, lower their total cost of ownership, and enhance their overall competitiveness.

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
  • 15 new highs and up 13.91% in the last month
  • Relative Strength Index 74.38%
  • Technical support level at 67.08
  • Recently traded at 67.99 with a 50 day moving average of 63.66 
Fundamental factors:
  • Market Cap $6.23 billion
  • P/E 10.45
  • Revenue expected to grow 4.20% this year and another 3.50% next year
  • Earnings estimated to increase 7.90% this year, an additional 6.0% next year and continue to compound at an annual rate of 15.95% for the next 5 years
  • Wall Street analysts issued 4 strong buy, 4 buy, 2 hold and 1 sell recommendation on this stock

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