Looking at Barchart’s Daily What's Hot - Biggest Up Moves is one of my favorite ways to spot stocks with improving technical profiles.
For example, consider today’s Chart of the Day, Greif Inc. (GEF) a maker of industrial packaging products, and containerboard and corrugated products. GEF has had a turbulent time recently falling 63% from September 23rd until November 21st. Yesterday after the close however, GEF reported earnings that were higher than expected and as a result, the stock is trading some 17% higher. As a result, GEF is breaking out to the upside from its recent trading range.
Barchart Opinions for GEF are:
Short Term Indicators Average: 20% Sell
Medium Term Indicators Average: 75% Sell
Long Term Indicators Average: 67% Sell
Overall Average: 56% Sell
Barchart Trend Spotter Signal : Sell since September 29, 2008
Sector Performance: GEF is a member of the Containers - Paper Products sector, where it is the 7th best performing stock out of 11 stocks in the sector. While the sector as a whole has a weighted Alpha of -42.1%, GEF itself has a weighted Alpha of -50.0% indicating that it is slightly weaker than the sector as a whole. To learn more about weighted Alpha, visit the Barchart Learning Center.
How we spotted this chart: GEF appeared on Barchart’s Daily What's Hot - Biggest Up Moves page, where we displayed the Full list and sorted by percentage change. We then scanned the list and looked at charts for interesting breakout patterns.
Recent Developments:
Greif Inc. (GEF) reported Q4 earnings after the market close on December 10th. EPS was reported at $1.03, a 10% improvement over the previous year’s 93 cents.
Revenue for the quarter was reported at $978.4 million, up 11% from the same quarter in 2007’s $882.3 million.
