The Chart of the Day belongs to Overstock.com (OSTK). I found the Internet commerce stock by using Barchart to sort today's 52 Week High list first for the highest Weighted Alpha, then again for technical buy signals of 80% or more. Next I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 7/18 the stock gained 127.73%.
Overstock.com, Inc. is an online `closeout` retailer offering discount, brand-name merchandise for sale over the Internet. Their merchandise offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories.
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:
- 173.25+ Weighted Alpha
- 100% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 59.50% in the last month
- Relative Strength Index 72.01%
- Technical support level at 33.85
- Recently traded at 38.60 with a 50 day moving average of 26.04
Fundamental factors:
- Market Cap $879 million
- Revenue expected to grow 3.10% this year and another 4.00% next year
- Earnings estimated to increase 16.70% next year and continue to compound at an annual rate of 4.00% for the next 5 years
- The Wall Street analysts following the stock rates it a strong buy
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