Red Rocks Resorts - Chart Of The Day

Dec. 11, 2017 4:09 PM ETRRR
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Long Only, Momentum, Portfolio Strategy

Contributor Since 2009

Jim Van Meerten 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 attended post-baccalaureate and graduate courses in Business Administration, Quantitative Math, and Education at Florida Atlantic University, Georgia State University and University of North Carolina at Charlotte. In the past he has been an accountant, attorney, adjunct professor in Business Law, Accounting and Internal Auditing, financial advisor, supervisory principal, and compliance officer. He also passed the Georgia CPA Exam, the Certified Internal Auditor Exam, and the FINRA Series 7, 24 and 9/10 exams.He is presently also a contributor on MSN Top Stocks Blog, Motley Fool and is a member of the M100 on Marketocracy, an elete honor chosen by the editors of Marketocracy as being in the top 100 portfolio managers of over 100,000 portfoiios they review. He would enjoy hearing your comments at JimVanMeerten@gmail.com.

Summary

  • 96% technical buy signals.
  • 16 new hihgs and up 22.39% in the last month.
  • Relative Strength Index 88.77%.

The Chart of the Day belongs to Red Rocks Resorts (RRR).  I found the gaming stock by using Barchart to sort for the stocks hitting the most frequent new highs in the last month, then sorted for technical buy signals of 80% or more.  Next I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 9/20 the stock gained 39.56%.

Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in Las Vegas, United States.

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% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 22.39% in the last month
  • Relative Strength Index 88.77%
  • Technical support level at 31.41
  • Recently traded at 32.37 with a 50 day moving average of 26.39

Fundamental factors:

  • Market Cap $3.70 billion
  • P/E 22.25
  • Dividend yield 1.28%
  • Revenue expected to grow 15.50% this year and another 7.70% next year
  • Wall Street analysts issued 3 strong buy, 6 buy and 1 hold recommendation on the stock
  • The individual investors following the stock on Motley Fool voted 6 to 0 the the stock will beat the market
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