Sunday, February 12, 2017

Arconic - Chart of the Day

Arconic (ARNC) is the Barchart Chart of the Day.  The aluminum extruding company has a Trend Spotter buy signal, a Weighted Alpha of 78.70+ and gained 74.68% in the last year.

The Chart of the Day belongs Arconic (ARNC).  I found the aluminum extruding stock by using Barchart to sort today's All Time High list first by the most frequent number of new highs in the last month, then again by technical buy signals of 80% or better.  Since the Trend Spotter signaled a buy on 1/19 the stock gained 39.00%.

Arconic was carved out of aluminum giant Alcoa on November 1, 2016. The company describes itself as a global leader in multi-material, precision engineered products and solutions for a variety of industries.

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
  • 16 new highs and up 43.02% in the last month
  • Relative Strength Index 90.20%
  • Technical support level at 28.54
  • Recently traded at 29.62 with a 50 day moving average of 21.65
Fundamental factors:
  • Market Cap $12.99 billion
  • P/E 25.42
  • Revenue expected to grow 4.00% next year
  • Earnings estimated to increase 10.20% this year and an additional 35.20% next year
  • Wall Street analysts issued 5 buy, 5 hold and 1 sell recommendation on the stock

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