Barchart Stock Chart of the Day – February 26, 2009

Most traders appreciate the value of buying stocks emerging from long congestion areas, and Barchart tools help you to easily isolate those stocks for study.

One of my favorite means to find stocks breaking out is to use Barchart’s Signals - Top 100 Stocks page and look for stocks with significant improvements in their scores. And that’s how I found today’s Chart of the Day, Cabela’s (CAB) , the specialty retailer and direct marketer of hunting, fishing, camping and outdoor equipment.

While retail as a whole is suffering in this economy, CAB reported positive sale store sales in Q4 and continuing into 2009.

Barchart Opinions for CAB are:
    Short Term Indicators Average: 100% Buy
    Medium Term Indicators Average: 50% Buy
    Long Term Indicators Average: 33% Buy
    Overall Average: 72% Buy

Barchart Trend Spotter Signal: Long since February 9, 2009.

Sector Performance: CAB is a member of the Retail - Miscellaneous & Diversified sector, where it is the 8th best performing stock out of 28 stocks in the sector. While the sector as a whole has a weighted Alpha of -43.18%, CAB itself has a weighted Alpha of -34.30% indicating that it is somewhat stronger than the sector as a whole. To learn more about weighted Alpha, visit the Barchart Learning Center .

How we spotted this chart: We noticed CAB while viewing Barchart’s Signals - Top 100 Stocks page. We displayed the full list and then sorted by last month’s opinion. We noticed that CAB was a 16% sell one month ago but had improved to a 72% Buy.

Recent Developments:

On February 25th, Cabela’s (CAB) was featured in an AP story on surging gun sales after Obama’s election, attributing part of their recent sales increase to gun sales.