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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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  • Rex American Resources Corp Hits All Time High 0 comments
    Aug 5, 2014 3:38 PM | about stocks: REX

    The Chart of the Day belongs to Rex American Resources (NYSE:REX). I found the stock by sorting today's New High List for new high frequency in the last month. Since the Trend Spotter signaled a buy on 5/28 the stock gained 30.19%.

    REX is engaged in the production and sale of ethanol and distillers grains. The Company owns interests in corn or sorghum-based ethanol production facilities in Illinois, Iowa and Texas. The Company also intends to monetize its real estate assets via leases and property sales, as market conditions allow.

    (click to enlarge)

    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.

    Barchart technical indicators:


    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 10 day moving averages
    • 11 new highs and up 16.19% in the last month
    • Relative Strength Index 63.53%
    • Barchart computes a technical support level at 84.32
    • Recently traded at 90.16 with a 50 day moving average of 78.69

    Fundamental factors:


    • Market Cap $732.16 million
    • P/E 13.37
    • Revenue expected to grow by 2.70% next year
    • Earnings estimated to increase 126.50% this year and continue to increase at an annual rate of 15.00% for the next 5 years
    • Wall Street analysts issued 2 strong buy recommendations

    This is not a solid company so watch the moving averages very closely and exit at the 100 day moving average.

    Stocks: REX
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