Today I used Barchart to sort the S&P 400 Mid Cap Index stocks to find the stocks with the most frequent new highs in the last month, then used the Flipchart feature to review the charts. Right at the top of the list was the REIT SL Green Realty (NYSE:SLG):
Barchart technical indicators:
- 80% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 13 new highs and up 7.99% in the last month
- Relative Strength Index 67.90%
- Barchart computes a technical support level at 117.06
- Recently traded at 122.26 with a 50 day moving average of 114.31
Fundamental factors:
- Market Cap $12.17 billion
- P/E 19.59
- Dividend yield 1.68%
- Revenue expected to grow 12.40% this year and another 6.10% next year
- Earnings estimated to increase 14.50% this year, an additional 5.40% next year and continue to increase at an annual rate of 6.08% for the next 5 years
- Wall Street analysts issued 2 strong buy, 4 buy, 13 hold and 1 under perform recommendation on the stock.
The 50 -100 day MACD Oscillator has been the most effective technical trading strategy on this stock and should be used as an exit point.
