Gray Television - Barchart's Chart of the Day

Gray Television (GTN) is Barchart's Chart of the Day.  The television and newspaper communications stock has a Trend Spotter buy signal, a Weighted Alpha of 460.30+ and gained 506.85% in the last year.


The Chart of the day is Gray Television (GTN).  I found the stock by sorting 12 Months Leaders List for frequency of new highs in the last month then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 9/18 the stock gained 80.82%.

NOTE:  I try to mix it up a little bit on the method I use to find good charts; not to confuse you but to show you there are multiple ways to find great stocks.  You need to use the method that is easiest and most comfortable for you.

It is a communications company headquartered in Atlanta, Georgia, and currently operates 15 CBS-affiliated television stations, seven NBC-affiliated television stations, seven ABC-affiliated television stations and four daily newspapers.

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% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 30.59% in the last month
• Relative Strength Index 68.03%
• Barchart computes a technical support level at 11.62
• Recently traded at 13.29 with a 50 day moving average of 9.83

Fundamental factors:

• Market Cap $693.75 million
• P/E 17.45
• Only 2 analysts are following this stock and just one of them rates it a hold
• The consensus revenue projection is a decrease of 15.20% this year but an increase of 46.50% next year
• The earnings are estimated to decrease 71.50% this year buy increase by 240.00% next year with a 5 year compounded growth rate of 2.00%
• Financial Strength is C++

This is a purely technical play.  I have to agree with the analysts that recommends a hold.  When a stock is up over 500.00% in a year, that's not a good time to enter into the trade.  For those who are already in, protect your profits buy taking a little off the table and exit the rest at the 50 day moving average.