The Chart of the Day belongs to the chicken processor Sanderson Farms (SAFM). I found the stock by sorting Barchart’s Top Stocks to Own list first by the most frequent number of new highs in the last month, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 5/23 the stock gained 8.11%.
SAFM Price vs Trend Spotter and Daily Moving Averages (Barchart)
Sanderson Farms, Inc., an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets. Its prepared chicken product line includes institutional and consumer packaged partially cooked or marinated chicken items for distributors and food service establishments. The company was founded in 1947 and is headquartered in Laurel, Mississippi.
Source: Seeking Alpha
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Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:
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