The Chart of the Day belongs to a turnaround stock called 58.com (WUBA). I found the on-line retailer by using Barchart to sort today's Top Stocks to Own 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 7/7 the stock gained 10.51%
58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China.
Please note this is a 1 year Chart:
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, 5 and 100 day moving averages
- 12 new highs and up 21.23% in the last month
- Relative Strength Index 73.78%
- Technical support level at 48.89
- Recently traded at 49.73 with a 50 day moving average of 43.84
- Market Cap $7.3 billion
- Revenue expected to grow 17.80% this year and another 22.90% next year
- Earnings estimated to increase 504.80% this year, an additional 155.30% next year and continue to compound at an annual rate of 65.4% for the next 5 years
- Wall Street analysts are split with 2 buy, 3 hold and 2 sell recommendations on the stock