The Chart of the Day belongs to Ingevity (NGVT). I found the specialty chemical stock by using Barchart to sort today's All Time High list first for the highest Weighted Alpha, then again for technical buy signals of 80% or better. Since the Trend Spotter signaled a buy on 11/8 the stock gained 20.04%.
Ingevity Corporation provides specialty chemicals, carbon materials and technologies. The Company's operating segments consists of Performance Materials and Performance Chemicals. Performance Chemicals segment products consists of asphalt paving, adhesives, agrochemical dispersants, printing inks, lubricants, petroleum and other diverse industries. Performance Materials segment engineers, manufactures and sells wood-based chemically activated carbon products. Ingevity Corporation is based in North Charleston, SC.
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 Barchart.com 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
- 6 new highs and up 9.20% in the last month
- Relative Strength Index 68.40%
- Technical support level at 53.52
- Recently traded at 54.02 with a 50 day moving average of 47.17
Fundamental factors:
- Market Cap $2.23 billion
- Revenue expected to grow 4.90% next year
- Earnings estimated to increase 19.10% next year and continue to compound at an annual rate of 10.00% for the next 5 years
- Wall Street analysts issued 5 buy and 1 hold recommendation on the stock
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