’s Chart of the Day – TrueBlue (TBI)

The Chart of the Day is TrueBlue (TBI) and was found by sorting the New High list for frequency and then using the Flipchart feature to find a chart I like. The stock has both a Trend Spotter buy signal and 96% Barchart technical buy signals. The price advanced in 16 of the last 20 trading sessions for a 16.13% gain. The Relative Strength Index in 79.26%.

The Company provides general labor, light industrial and skilled trades services to small to mid-sized businesses in the construction, warehousing, hospitality, landscaping, transportation, light manufacturing, retail, wholesale, facilities, sanitation, and aviation industries.

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 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 16.13% in the last month
  • Relative Strength Index 79.26%
  • Barchart computes a technical support level at 22.55
  • Recently traded at 23.25 with a 50 day moving average of 20.98

Fundamental factors:

  • Market Cap $944.18 million
  • P/E 29.09
  • Revenue projected to grow 18.30% this year and another 6.90% next year
  • Earnings estimated to increase 19.00% this year, an additional 27.00% next year and continue to compound annually at eh rate of 10.00% for the next 5 years
  • Wall Street analysts issued 1 strong buy and 6 hold recommendations
  • Financial Strength B++

Hold until the stock drops below its 50 day moving average.

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