The "Chart of the Day" is Western Gas Partners (WES), which showed up on Monday's Barchart "NYSE 3-Month High" list. WES on Monday rallied by 1.00% and edged to a new 4-month high of $36.46. A rally above the all-time high of $37.05 posted on April 29, 2011 would be a particularly bullish technical signal. TrendSpotter issued a Buy signal for WES on Sep 1 at $36.41. In recent news on the stock, Western Gas Partners on July 5 increased its quarterly dividend to 40.5 cents per unit, a 4% increase over the prior quarter's distribution of 39 cents per unit. Western Gas Partners on Aug 3 reported Q2 EPS of 39 cents, which was below the consensus of 44 cents but included the effects of a $1.9 million realized loss on an interest rate hedge. Western Gas Partners, with a market cap of $2.1 billion, is a growth-oriented Delaware limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets.
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: 80% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% Buy
Barchart links for further information:
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Trader's Cheat Sheet™
Chart of the Day Archive
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