The Chart of the Day is MGP Ingredients (MGPI). I found the stock by sorting the New High list for new high frequency in the last month, then used the Flipchart feature to review the chart for momentum. Since the Trend Spotter signaled a buy on 5/27 the stock is up 11.66%.
MGP Ingredients is a pioneer in producing and marketing value-added proteins and starches derived primarily from wheat. In addition, they produce natural food-grade alcohol for use in beverage, food and industrial applications, and fuel grade alcohol, commonly known as ethanol.
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:
- 88% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 32.59% in the last month
- Relative Strength Index 81.48%
- Barchart computes a technical buy signal at 6.92
- Recently traded at 7.46 with a 50 day moving average of 6.28
Fundamental factors:
- Market Cap $131.82 million
- Dividend yield 1.41%
- Only one analysts is following the stock but doesn't release projections
- Over on Motley Fool 163 individual investors have given a split opinion of 83 to 80 for the stock to out perform the market.
Treat as a purely technical play. Exit at the 100 day moving average.
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