The Chart of the Day is AMBAC Financial Group (AMBC). I found the stock by sorting the All Time High list for frequency in the last month. skipped the stock that didn’t have a positive gain in the last week and month. I then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 2/12 the stock gained 33.82%.
AMBC is a holding company which provides financial guarantees and other financial services to clients in both the public and private sectors globally, through its subsidiaries. It provides financial guarantee insurance and other credit enhancement products, such as credit derivatives, financial and investment products, including investment agreements, derivative products and funding conduits.
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:
- 96% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 46.40% in the last month
- Relative Strength Index 79.10%
- Barchart computes a technical support level at 31.93
- Recently traded at 33.11 with a 50 day moving average of 24.81
Fundamental factors:
- Market Cap $1.49 billion
- P/E 2.70
- Earnings estimated to increase annually at the rate of 11.00% for the next 5 years
- Wall Street analyst issued 1 strong buy and 1 hold recommendations
This stock has gained a lot lately so closely watch the 50 day moving average for weakness and the 100 day moving average for an exit point.
