Jim Van Meerten's  Instablog

The Chart of the Day is Johnson Outdoors (JOUT). I found the stock by sorting the New High List for frequency and then used the Flipchart feature to find the charts I like. The stock has both a Trend Spotter buy and 72% technical buy signals. The Relative Strength Index is 57.08%.

The Company global outdoor recreation company that designs, manufactures and markets a portfolio of consumer brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Brands include Old Town canoes and kayaks, Ocean Kayak and Necky kayaks, Lendal paddles, Escape electric boats, Minn Kota motors, Cannon downriggers, Humminbird, Bottom Line and Fishin' Buddy fishfinders, Scubapro and UWATEC dive equipment, Silva compasses and digital instruments, and Eureka! tents.

(click to enlarge)

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:

• 72% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 5.33% in the last month
• Relative Strength Index 57.08%
• Barchart computes a technical support level at 23.89
• Recently traded at 24.32 with a 50 day moving average of 23.58

Fundamental factors:

• Market Cap $241.50 million
• P/E 15.28
• Earnings estimated to increase 92.20% this year and an additional 19.20% next year
• A Wall Street analyst has issued a strong buy recommendation
• Financial Strength B+

Since this company is in the highly seasonal outdoor equipment sector I would advise watching the 50 day moving average closely.

The Chart of the Day is TrueBlue (TBI) and was found by sorting the New High list for frequency and then using the Flipchart feature to find a chart I like. The stock has both a Trend Spotter buy signal and 96% Barchart technical buy signals. The price advanced in 16 of the last 20 trading sessions for a 16.13% gain. The Relative Strength Index in 79.26%.

The Company provides general labor, light industrial and skilled trades services to small to mid-sized businesses in the construction, warehousing, hospitality, landscaping, transportation, light manufacturing, retail, wholesale, facilities, sanitation, and aviation industries.

(click to enlarge)

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 16.13% in the last month
• Relative Strength Index 79.26%
• Barchart computes a technical support level at 22.55
• Recently traded at 23.25 with a 50 day moving average of 20.98

Fundamental factors:

• Market Cap $944.18 million
• P/E 29.09
• Revenue projected to grow 18.30% this year and another 6.90% next year
• Earnings estimated to increase 19.00% this year, an additional 27.00% next year and continue to compound annually at eh rate of 10.00% for the next 5 years
• Wall Street analysts issued 1 strong buy and 6 hold recommendations
• Financial Strength B++

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

Today's list comes from using Barchart to sort the S & P 400 Mid Cap Index to find the stocks with the best technical indicators and charts. The list includes MEMC Electronic Materials (WFR), Lender Processing Services (LPS), Bally Technologies (BYI), Bill Barrett Corp (BBG),Waste Connections (WCN):

MEMC Electronics Materials (WFR)

(click to enlarge)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 50.84% in the last month
• Relative Strength Index 74.59%
• Barchart computes a technical support level at 6.13
• Recently traded at 7.26 with a 50 day moving average of 5.01

Lender Processing Services (LPS)

(click to enlarge)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signals
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 28.53% in the last month
• Relative Strength Index 78.70%
• Barchart computes a technical support level at 28.05
• Recently traded at 32.63 with a 50 day moving average of 26.39

Bally Technologies (BYI)

(click to enlarge)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 4 new highs and up 13.85% in the last month
• Relative Strength Index 69.26%
• Barchart computes a technical support level at 54.68
• Recently traded at 55.79 with a 50 day moving average of 51.67

Bill Barrett Corp (BBG)

(click to enlarge)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 20.96% in the last month
• Relative Strength Index 65.22%
• Barchart computes a technical support level at 20.82
• Recently traded at 23.26 with a 50 day moving average of 20.61

Waste Connections (WCN)

(click to enlarge)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 12.95% in the last month
• Relative Strength Index 73.90%
• Barchart computes a technical support level at 39.81
• Recently traded at 40.53 with a 50 day moving average of 37.07