Barchart Stock Chart of the Day – March 12, 2009
What’s up with clothing and retail clothing stocks?
Judging from what you read, the consumer isn’t buying (although today’s Retail Sales report was better than expected). Yet looking at various Barchart screens tells a much different story. Retail clothing stocks and clothing manufacturing stocks consistently are hitting those screens. Companies like TJX (TJX) , Jos A. Bank (JOSB) , Buckle (BKE) , Men’s Warehouse (MW) and Hanesbrands (HBI) all appear on various Barchart screens today. And when you see entire sectors move at the same time, you can be sure that something is afoot.
We found today’s Chart of the Day, Dress Barn (DBRN) on one of our favorite Barchart screen for early movers, the Signals - Top 100 Stocks page. Looking at the chart, we were convinced that we’d found a winner.
Barchart Opinions for DBRN are:
Short Term Indicators Average: 100% Buy
Medium Term Indicators Average: 100% Buy
Long Term Indicators Average: 100% Buy
Overall Average: 100% Buy
Barchart Trend Spotter Signal: Long since March 9, 2009.
Sector Performance: DBRN is a member of the Retail - Apparel & Shoes sector , where it is the 7th best performing stock out of 44 stocks in the sector. While the sector as a whole has a weighted Alpha of -42.71%, DBRN itself has a weighted Alpha of -8.90% indicating that it is significantly stronger than the sector as a whole. To learn more about weighted Alpha, visit the Barchart Learning Center.
How we spotted this chart: While looking at various Barchart screens of top performing stocks we were pleasantly surprised at the number of retail clothing companies represented. When we scanned Barchart’s Signals - Top 100 Stocks page, we displayed the full list and then sorted by last month’s opinion, looking for stocks with significant improvement. We found DBRN had gone from a 16% Sell last month to a 100% Buy today. After viewing the chart we saw that DBRN is breaking out to the upside.
Recent Developments:
There have been no significant news items for Dress Barn (DBRN) in the last seven days.
