Barchart Research Team - BC - Wed Oct 24, 8:47PM CDT
The "Chart of the Day" is Redwood Trust (RWT), which showed up on Wednesday's Barchart "NYSE 3-Month High" list. Redwood Trust on Wednesday posted a new 14-month high of $15.21 and closed +1.07%. TrendSpotter just turned long on Tuesday at $15.01. In recent news on the stock, Maxim on Oct 23 initiated coverage on Redwood Trust with a Buy and a target of $16.50. Redwood Trust, with a market cap of $1.1 billion, is a real estate investment trust that specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities representing interest in or obligations backed by pools of mortgage loans.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "New Highs/Lows" page. Then we clicked on the entry for NYSE 3-month highs. A new 3-month high is a sign of upside momentum.
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.
- TrendSpotter: Buy
- Short-Term Indicators: 100% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 100% Buy
Barchart links for further information:
Chart of the Day Archive
View Past Chart of the Day Reports