Chart Of The Day - Warren Resources (WRES)

The Chart of the Day is Warren Resources (WRES).  I found the stock by sorting today's New High List for the best technical buy signals then used to Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 1/28 the stock gained 61.63%.
 


The status of 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:
 

  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 4 new highs and up 10.81% in the last month
  • Relative Strength Index 72.81%
  • Barchart computes a technical support level at 5.03
  • Recently traded at 5.33 with a 50 day moving average of 4.51

Fundamental factors:

  • Market Cap $388.24 million
  • P/E 11.04
  • Revenue predicted to increase by 10.90% this year and another 5.40% next year
  • Earnings expected to decrease 21.30% this year, decrease again next year by another 8.10% but still have a compounded annual return of 10.00% over the next 5 years
  • Wall Street analysts issued a strong buy and 2 hold recommendations 

Energy is iffy and volatile so watch the moving averages for signs of weakness.

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