The "Chart of the Day" is Acuity Brands (AYI), which showed up on Thursday's list of stocks that had a new "Buy" signal from the Barchart "TrendSpotter" trading system. Acuity on Thursday rallied by 2.79% and posted a new 2-week high of $60.12. A rally in Acuity above the recent 3-1/2 year high of $60.54 (posted Dec 13) would be a particularly bullish technical signal and may indicate that a test would soon be forthcoming of the stock's record high of 63.84 posted in July 2007. Acuity Brands, with a market cap of $2.5 billion, is the world's largest lighting fixture manufacturer and includes brands such as LithoniaLighting, Holophane, Peerless, and Hydrel.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "Trading Signals" page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter "Buy" category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the "Today's Opinion" column header in order to sort the list with the strongest stocks on top. Further information is available at Barchart Signals Guide help page and at TrendSpotter help page.
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: 80% Buy
- Medium-Term Indicators: 75% Buy
- Long-Term Indicators: 67% Buy
- Overall Average 80% Buy
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: Provided by and with permission of Barchart.com