Thursday, September 15, 2016

Lumentum Holdings - Chart of the Day

Lumentum Holdings (LITE) is the Barchart Chart of the Day.  The communications equipment company has a Trend Spotter buy signal, a Weighted Alpha of 148.14+ and gained 125.26% in the last year.

The Chart of the Day is Lumentum Holdings (LITE).  I found the communications equipment 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.  Since the Trend Spotter signaled a buy on 7/12 the stock gained 56.91%.

Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company's operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California.

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% Technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 19.87% in the last month
  • Relative Strength Index 7559%
  • Technical support level at 36.49
  • Recently traded at 31.69 with a 50 day moving average of 31.69
Fundamental factors:
  • Market Cap $2.32 billion
  • P/E 39.99
  • Revenue expected to grow 15.50% this year and another 9.80% next year
  • Earnings estimated to increase 42.60% this year, an additional 16.80% next year and continue to compound at an annual rate of 20.00% for the next 5 years
  • Wall Street analysts issue 8 strong buy, 1 buy, 1 hold and 2 sell recommendations on the stock

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