Legg Mason - Barchart's Chart of the Day

Summary:

Legg Mason the Financial Management and Brokerage firm is the Chart of the Day.  The price advanced in all 20 of the last 20 trading sessions and the stock has 100% technical buy signals plus a Trend Spotter buy signal.

Article:

The Chart of the Day is Legg Mason (LM).  Lately the stock has terrific momentum and was up in all of the last 20 trading sessions.  The stock gained 47.89% in the last 12 months and still has a P/E below the market average.  We found the stock by sorting the New High list for frequency.

It is a holding company which, through its subsidiaries, is principally engaged in providing asset management, securities brokerage,investment banking and related financial services to individuals,institutions, corporations and municipalities.

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:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 540 and 100 day moving averages
• 20 new highs and up 20.11% in the last month
• Relative Strength Index 81.01%
• Barchart computes a technical support level at 35.22
• Recently traded at 36.13 with a 50 day moving average of 31.88

Fundamental factors:

• Market Cap $4.66 billion
• P/E 13.52
• Dividend yield 1.25%
• Financial Strength B+
• Revenue predicted to increase 2.40% this year and another 4.10% next year
• Earnings estimated to grow 183.00% this year, an additional 15.50% next year and continue to compound at an annual rate of 16.67% for the next 5 years
• Wall Street analysts have issued 3 strong buy,7 hold and 4 sell recommendations

Hold unless the stock drops below its 50 day moving average.