The "Chart of the Day" is Smithfield Foods (SFD), which showed up on Thursday's list of stocks that had a new "Buy" signal from the Barchart "TrendSpotter" trading system. Smithfield Foods on Thursday rallied by 5.64% and broke out to a new 2-1/2 year high. In recent news on the stock, BB&T on Thursday upgraded Smithfield to a Buy from Hold and provided a target of $28 on its view of stability in pork margins and attractive stock valuation. Smithfield has also received a boost from ideas that Japan will increase demand for US pork given its radiation problems in the north. However, analyst views are mixed given that Goldman Sachs this past Monday downgraded Smithfield to Neutral from Buy and left its target at $24 due to expectations for lower hog prices towards summer. Smithfield Foods, with a market cap of $3.8 billion, is one of the world's largest hog producers and pork processors.
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: 100% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 100% Buy
Barchart links for further information:
Quotes and Charts
Trader's Cheat Sheet™
Chart of the Day Archive
View Past Chart of the Day Reports