The "Chart of the Day" is MasterCard (MA), which showed up on Friday's list of stocks that had a new "Buy" signal from the Barchart "TrendSpotter" trading system. MasterCard on Friday rallied by 1.11% and posted a new 1-month high of 286.32. A rally above the 3-year high of $286.80 posted on May 3 would be a particularly bullish technical development. In recent news on the stock, Google on May 26 announced that its Google Wallet phone payment application includes Citigroup, MasterCard and Sprint and that there are 20,000 merchants "ready to go." JP Morgan on May 4 reiterated its Overweight rating on MasterCard and increased its target to $330 from $285 due to strong Q1 results. Four other investment banks, Credit Suisse, Piper Jaffray, FBR capital and RW Baird on May 3-4 also reiterated their Buy ratings on MasterCard and raised their price targets. MasterCard, with a market cap of $34 billion, is a large financial institution that specializes in credit cards and payment processing.
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 mostly 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: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% 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
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