The Chart of the Day belongs to Novanta (NOVT). I found the electronic components stock by using Barchart to sort today's All Time High list first for the highest Weighted Alpha, then again for technical buy signals of 80% or more. Since the Trend Spotter signaled a buy in 8/25 the stock gained 10.21%.
Novanta Inc. designs, develops, manufactures and sells precision photonic and motion control components and subsystems to original equipment manufacturers in the medical equipment and advanced industrial technology markets. Novanta Inc., formerly known as GSI Group Inc., is based in Bedford, Massachusetts.
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
- 14 new highs and up 14.71% in the last month
- Relative Strength Index 79.07%
- Technical support level at 41.03
- Recently traded at 42.10 with a 50 day moving average of 37.94
Fundamental factors:
- Market Cap $1.42 billion
- P/E 30.33
- Revenue expected to grow 29.60% this year and another 14.90% next year
- Earnings estimated to increase 29.40% this year, an additional 20.60% next year and continue to compound at an annual rate of 12.50% of the next 5 years
- The analyst making those projections rated it a buy
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