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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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  • Avnet - Barchart's Chart Of The Day 0 comments
    Dec 31, 2013 4:27 PM | about stocks: AVT

    The Chart of the Day is Avnet (NYSE:AVT). I found the stock by sorting the New High List for frequency in the last month and then eliminated those stocks that did not have positive gains for the last week and month. I then used the Flipchart feature to review the charts. Since the Trend Spotter signaled another buy on 12/10 the stock is up 5.08%.

    It is one of the world's largest industrial distributors of electronic components and computer products. The company is a vital link in the chain that connects suppliers of semiconductors, interconnect products, passive and electromechanical devices to original equipment manufacturers and contract manufacturers that design and build the electronic equipment for end-market use, and to other industrial customers. The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the world's leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers.

    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:

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 16 new highs and up 10.45% in the last month
    • Relative Strength Index 72.18%
    • Barchart computes a technical support level at 43.06
    • Recently traded 44.12 with a 50 day moving average of 41.00


    Fundamental factors:

     

    • Market Cap $6.05 billion
    • P/E 11.46
    • Dividend yield 1.38%
    • Revenue is projected to grow 5.70% this year and another 4.20% next year
    • Earnings are estimated to increase by 13.70% annually over the next 5 years
    • Wall Street analysts issued 4 strong buy, 3 buy and 5 hold recommendations
    • Financial Strength is A


    The stock has been a Chart of the Day before and has show steady gains over the last year. Use the 50 day moving averages as an exit point.

    Stocks: AVT
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