The Chart of the Day belongs to Bemis Co (NYSE:BMS). I found the stock by sorting the All Time High list to find the stocks with the most frequent new highs in the last month and then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 10/21 the stock gained 7.92%.
Bemis Company, Inc. a principal manufacturer of flexible packaging products and pressure sensitive materials selling to customers throughout the United States, Canada, and Europe with a growing presence in Asia Pacific, South America, and Mexico. The primary market for its products is the food industry. Other markets include companies in chemical, agribusiness, medical, pharmaceutical, sanitary products, graphic industries, and other consumer goods.
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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:
Fundamental factors:
My advice is not to add any new money to this position. Although the technical indicators look good I don't like that price spike back on 10/23 on a relatively good earnings announcement nor do I like that there aren't any analysts with strong buy or buy recommendations on this stock. If you bought a while back and enjoyed the ride, that's great but be prepared to protect your profit and be out before the stock drops 10% off it's recent high.
