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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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Marketocracy Capital Management
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  • Daqo New Energy - Rocket Ride ! 0 comments
    Nov 13, 2013 4:41 PM | about stocks: DQ

    The Chart of the Day is Daqo New Energy (NYSE:DQ). I found the stock by sorting the New High List for Weighted Alpha and this stock has a WA of 481.60+. Since the Trend Spotter signaled a buy back on 8/23 this stock has shot up 456.78%!

    It is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions.

    (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:

    • 100% Barchart technical buy signals
    • Trend spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 5 new highs and up 70.71% in the last month
    • Relative Strength Index 69.53%
    • Barchart computes a technical support level at 33.22
    • Recently traded at 46.57 with a 50 day moving average of 27.10


    Fundamental factors:

     

    • Market Cap $321.87 million
    • P/E 10.14
    • The company keeps upping their shipment projections
    • Only 2 Wall Street firms follow the stock and one is bullish and the other bearish
    • On Motley Fool the individual investors who follow the stock give a 51% bull vs 49% bear vote


    Please don't buy in at this level. The only thing riskier than a small cap Chinese stock is a small cap Chinese stock that is up 1,077.50% in the last year. You would be very foolish not to rake off some of the gains you've made. Don't try to ride it all the way to the top.

    Stocks: DQ
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