Monday, October 17, 2016

RigNet - Chart of the Day

RigNet (RNET) is the Barchart Chart of the Day.  The wireless communications company has a Trend Spotter buy signal and although it has a Weighted Alpha of minus 14.43 the stocks has gained 23.05% in the last 3 months.

The Chart of the Day belongs to RigNet (RNET).  I found the wireless communications stock by using Barcart to sort the Russell 3000 Index stocks first for the highest number of new hihgs in the last month, then again for technical buy signals of 80% or more.  Since the Trend Spotter signaled a buy on 9/8 the stock gained 28.98%.

RigNet, Inc is engaged in providing data network infrastructure serving the remote communications needs of the oil and gas industry. The Company delivers voice, data, video and other value-added services such as real-time management services through a Internet Protocol/Multiprotocol Label Switching, or IP/MPLS, global network. RigNet operates its business through three reportable segments: eastern hemisphere, western hemisphere and U.S. land. The eastern hemisphere segment provides services outside USA in the eastern part; western hemisphere provides services outside USA in the western part; while the U.S. land segment offers services to facilities located onshore in North America. RigNet, Inc is headquartered in Houston, Texas.

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
  • 14 new highs and up 23.24% in the last month
  • Relative Strength Index 71.23%
  • Technical support level at 16.07
  • Recently traded at 16.60 with a 50 day moving average of 13.56
Fundamental factors:
  • Market Cap $294.32 million
  • Revenue to decrease 3.90% next year
  • Earnings estimated to increase 60.00% next year and continue to compound at an annual rate of 20.00% for the next 5 years
  • Wall Street analysts issued 2 strong buy and 2 hold recommendations on the stock

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