Avnet - Barchart's Chart of the Day

Avent (AVT) is Barchart's Chart of the Day.  The electronics and computer products distributor has a Trend Spotter buy signal, a Weighted alpha of 40.90+ and gained 47.76% in the last year.

The Chart of the Day is Avnet (AVT).  I found the stock by sorting the New High List for frequency in the last month and then eliminated those stocks that did not have positive gains for the last week and month.  I then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled another buy on 12/10 the stock is up 5.08%.

It is one of the world's largest industrial distributors of electronic components and computer products. The company is a vital link in the chain that connects suppliers of semiconductors, interconnect products, passive and electromechanical devices to original equipment manufacturers and contract manufacturers that design and build the electronic equipment for end-market use, and to other industrial customers. The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the world's leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers.

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
• 16 new highs and up 10.45% in the last month
• Relative Strength Index 72.18%
• Barchart computes a technical support level at 43.06
• Recently traded 44.12 with a 50 day moving average of 41.00

Fundamental factors:

• Market Cap $6.05 billion
• P/E 11.46
• Dividend yield 1.38%
• Revenue is projected to grow 5.70% this year and another 4.20% next year
• Earnings are estimated to increase by 13.70% annually over the next 5 years
• Wall Street analysts issued 4 strong buy, 3 buy and 5 hold recommendations
• Financial Strength is A

The stock has been a Chart of the Day before and has show steady gains over the last year.  Use the 50 day moving averages as an exit point.

5 Mid Cap Moving Up

Today I used Barchart to sort the S&P 400 Mid Cap Index to find the stocks hitting the most frequent new highs.  The list includes Deluxe (DLX), Scientific Games (SGMS), Avnet (AVT), Idacorp (IDA) and Esterline Technologies (ESL):

Deluxe (DLX)

Barchart technical indicators:

• 64% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 18 new highs and up 18.18% in the last month
• Relative Strength Index 78.52%
• Barchart computes a technical support level at 39.87
• Recently traded at 40.95 with a 50 day moving average of 36.87

Scientific Games (SGMS)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 18 new highs and up 20.09% in the last month
• Relative Strength Index 74.51%
• Barchart computes a technical support level at 13.28
• Recently traded at 13.51 with a 50 day moving average of 11.63

Avnet (AVT)

Barchart technical indicators:

• 80% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 17 new highs and up 11.67% in the last month
• Relative Strength Index 68.56%
• Barchart computes a technical support level at 37.01
• Recently traded at 37.52 with a 50 day moving average of 34.63

Idacorp (IDA)

Barchart technical indicators:

• 96% Barchart technical buy signals
• rend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 17 new highs and up 10.66% in the last month
• Relative strength Index 69.73%
• Barchart computes a technical support level at 52.47
• Recently traded at 52.85 with a 50 day moving average of 49.23

Esterline Technologies (ESL)

Barchart technical indicators:

• 56% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 17 new highs and up 12.44% in the last month
• Relative strength Index 63.04%
• Barchart computes a technical support level at 80.01
• Recently traded at 81.28 with a 50 day moving average of 75.81

Avnet - Chart of the Day

Summary:

Avnet (AVT) is the Chart of the Day.  The electronics and computer distributor is up 25.24% for the year and has a 100% technical buy signal and a Trend spotter buy signal.  I found the stock by sorting the New High List.

Article:

The Chart of the Day is Avent (AVT).  The stock was right at the top of the New High List when I sorted it for frequency.  In the last month the stock hit 19 new highs for a gain of 15.08% and has a Relative Strength Index of 79.21%

It is an industrial distributor of electronic components and computer products. The company is a link in the chain that connects suppliers of semiconductors, interconnect products, passive and electromechanical devices to original equipment manufacturers and contract manufacturers that design and build the electronic equipment for end-market use, and to other industrial customers. The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the world's leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers. Avnet brings a breadth and depth of capabilities, such as maximizing inventory efficiency, managing logistics, assembling products and providing engineering design assistance for its one largest customers, accelerating their growth through cost-effective, value-added services and solutions.

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% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 19 new highs and up 15.08% in the last month
• Relative Strength Index 79.21%
• Barchart computes a technical support level at 36.88
• Recently traded at 38.00 wiht a 50 day moving average of 34.43

Fundamental factors:

• Market Cap $5.21 billion
• P/E 10.59
• Revenue expected to increase 4.70% next year
• Earnings estimated to increase 19.40% next year and continue to increase for the next 5 years at an annual rate of 4.04%
• Wall Street analysts issued 4 strong buy, 4 buy and 4 hold recommendations to their clients
• Financial Strength is A

Hold until the stock drops below its 50 day moving average.