The Chart of the Day is Legg Mason (LM). I found the stock by sorting the New High List for frequency in the last month and skipped over the stock without positive gains for the last week and month. Since the Trend Spotter signaled another buy signal on 12/9 the stock is up 9.15%.
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:
- 96% Barchart technical buy signals
- Trend spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 15 new highs and up 12.08% in the last month
- Relative Strength Index 78.60%
- Barchart computes a technical support level at 43.14
- Recently traded at 43.88 with a 50 day moving average of 39.21
Fundamental factors:
- Market Cap $5.41 billion
- P/E 15.77
- Dividend yield 1.20%
- Analyst project revenue will grow 4.20% this year and another 3.10% next year
- Earnings are estimated to increase 187.20% this year, an additional 16.50% next year and continue to increase at an annual rate of 16.30% for the next 5 years
- Wall Street analysts issued 1 strong buy, 2 buy, 10 hold and 4 under perform recommendations on the stock
- Financial Strength is B+
As more investors finally get back into the market this stock should do well. I feel confident using the 100 day moving average as a exit point.
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