The Chart of the Day is Suncoke Energy (NYSE:SXC). I found the stock by sorting the New High List for frequency then I used the Flipchart feature to review the charts. Although sales and earnings projections vary widely the stock is showing very positive and steady price gains. Since the Trend Spotter signaled a buy on 7/15 the stock has gained 48.84%.
It is a producer of metallurgical coke in the Americas. The Company acquires, owns, and operates the coke making and coal mining operations. Its coke making facilities are in the United States and Brazil.
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 si\gnals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 14.98% in the last month
- Relative Strength Index 84.84%
- Barchart computes a technical support level at 22.11
- Recently traded at 22.64 with a 50 day moving average of 19.37
- Market Cap $1.58 billion
- P/E 37.76
- Revenue projections are all over the charts but the consensus is a 13.60% decrease this year and another 1.30% decrease next year
- Earnings estimates are also all over the charts with the consensus of a 67.90% decrease this year, an increase of 60.00% next year but some sources look for a 9.00% annual growth rate over the next 5 years
- In spite of these numbers Wall Street analysts issued 2 strong buy, 2 buy and 4 hold recommendations
- It still gets positive comments from CreditSuisse, Openheimer and Barclays
- On Motley Fool, readers vote 34 to 1 that the stock will beat the market
- Financial Strength is B
This stock is trending on a technical basis but is a hard call on a fundamental analysis. Future prospects for the coal industry are subject to the whims of economic and environmental regulations in the US, China and India. Your guess as to that outcome is as good as any ones. Trade this on a technical basis and exit when momentum weakens.