The Chart of the Day belongs to Extreme Networks (EXTR). I found the computer communications equipment stock by using Barchart to sort today's Top Stocks to Own list first for the highest Weighted Alpha , then again for technical buy signals of 80% or more. Since the Trend Spotter signaled a buy on 2/2 the stock gained 90.33%.
Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs.
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:
- 100% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 10 new highs and up 18.13% in the last month
- Relative Strength Index 82.22%
- Technical support level at 10.02
- Recently traded at 10.57 with a 50 day moving average of 8.17
Fundamental factors:
- Market Cap $1.13 billion
- P/E 35.68
- Revenue expected to grow 12.00% this year and another 21.00% next year
- Earnings estimated to increase 53.60% this year, an additional 34.90% next year and continue to compound at an annual rate of 20.00% for the next 5 years
- Wall Street analysts issued 3 strong by, 1 buy and 1 hold recommendation on the stock
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