The "Chart of the Day" is International Game Technology (IGT), which showed up on Wednesday's Barchart "NYSE 12-Month High" list. IGT on Wednesday rallied by 3.92% and edged to a new 13-month high. TrendSpotter has been Long on IGT since July 1 at $17.99. In recent news on the stock, IGT on Tuesday reported fiscal Q3 adjusted EPS of 26 cents versus the consensus of 22 cents. Credit Suisse on Wednesday after that positive earnings news reiterated its Outperform rating on IGT and raised its target to $24 from $22. Sterne Agee on July 12 upgraded IGT to Buy from Neutral and raised its target to $23. International Game Technology, with a market cap of $5.5 billion, is one of the largest manufacturers of computerized casino gaming products and operators of proprietary gaming systems in the world and was the first to develop computerized video gaming machines.
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 12-month highs. A new 12-month high is a popular sign of upside momentum. We then clicked on the "12-Month # Highs" column heading twice in order to sort the list in ascending order. Stocks with the fewest number of 12-month highs over the past 12 months are stocks that have only recently broken out to a new 12-month high and may have better upside potential then stocks that have already rallied sharply and have posted many new 12-month highs.
Barchart's Opinion trading systems are all a "Buy" and Barchart's daily TrendSpotter trading system is a "Buy." 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:
Quotes and Charts
Trader's Cheat Sheet™
Chart of the Day Archive
View Past Chart of the Day Reports