Chart Of The Day - Bellatrix Expolration (BXE)

The Chart of the Day is Bellatrix Exlporation (BXE).  I found the stock by sorting the All Time High list for new high frequency in the last month, then used the Flipchart feature to review the stocks.  Since the Trend Spotter signaled a buy on 2/28 the stock gained 35.60%,

Bellatrix Exploration Ltd. is an oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan.
 

The status of 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
  • 15 new highs and up 24.82% in the last month
  • Relative Strength Index 78.25%
  • Barchart computes a technical support level at 9.95
  • Recently traded at 10.33 with a 50 day moving average of 8.59

Fundamental factors:

  • Market Cap $1.22 billion
  • P/E 20.51
  • Revenue expected to grow 131.80% this year and another 18.10% next year
  • Earnings estimated to increase 121.90% this year and an additional 39.40% next year
  • Wall Street analysts issued 1 strong buy and 3 buy recommendations on the stock

Watch the 50 day moving average for signs of weakness and the 100 day moving average for an exit point.

 

Disclosure: None.

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