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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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  • 5 Stocks Hitting New Highs 0 comments
    Nov 24, 2012 12:15 PM | about stocks: YHOO, CHMT, CVI, PPC, UTHR

    Today I used Barchart to sort the stocks hitting new highs that traded more than 100K shares and then sorted for frequency. I chose the stocks hitting the most highs in the last month. Remember there are only 20 trading sessions in a month. My list includes Yahoo! (NASDAQ:YHOO), Chemtura (NYSE:CHMT), CVR Energy (NYSE:CVI), Pilgrim's Pride (NASDAQ:PPC), and United Therapeutics (NASDAQ:UTHR):

    Yahoo! (YHOO)

    (click to enlarge)

    Barchart technical indicators:

     

    • 96% Barchart technical buy signal
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 16 new highs and up 11.40% in the last month
    • Relative Strength Index 79.24%
    • Barchart computes a technical support level at 18.33
    • Recently traded at 18.57 with a 50 day moving average of 16.54


    Chemtura (CHMT)

    (click to enlarge)

    Barchart technical indicators:

     

    • 96% Barchart technical buy signal
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 14 new highs and up 22.70% in the last month
    • Relative Strength Index 78.16%
    • Barchart computes a technical support level at 19.27
    • Recently traded at 19.62 with a 50 day moving average of 17.24


    CVR Energy (CVI)

    (click to enlarge)

    Barchart technical indicators:

     

    • 100% Barchart technical buy signal
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 14 new highs and up 19.78% in the last month
    • Relative Strength Index 78.96%
    • Barchart computes a technical support level at 42.27
    • Recently traded at 43.00 with a 50 day moving average of 37.97


    Pilgrim's Pride (PPC)

    (click to enlarge)

    Barchart technical indicators:

     

    • 96% Barchart technical buy signal
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 14 new highs and up 53.35% in the last month
    • Relative Strength Index 80.79%
    • Barchart computes a technical support level at 6.24
    • Recently traded at 6.64 with a 50 day moving average of 5.30


    United Therapeutics (UTHR)

    Special Comments: Normally this is not a stock that would come under my radar because all of the reasons it showed up on my screening was it's very short term momentum. The momentum however can't be ignored. The short time frame makes this stock the most speculative on the list.

    (click to enlarge)

    Barchart technical indicators:

     

    • 60 % Barchart short term buy signal
    • Trend Spotter sell signal but the signal is weakening
    • Above its 20 and 50 day moving averages but slightly below its 100 day moving average
    • 13 new highs and up .47% in the last month
    • Relative Strength Index 61.64%
    • Barchart computes a technical support level at 51.98
    • Recently traded at 53.53 with a 50 day moving average of 53.45


    MORE STOCK PICKS

    Stocks: YHOO, CHMT, CVI, PPC, UTHR
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