Tuesday, October 13, 2020

Chart of the Day - Daqo New Energy


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Barchart.com's Chart of the Day - Daqo New Energy
October 14, 2020: Published by Barchart.com

The Barchart Chart of the Day belongs to the specialty chemical company Daqo New Energy (NYSE:DQ).  I found the stock by sorting Barchart's New All-Time High list first by the highest Weighted Alpha, then used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 9/28 the stock gained 63.35%.

Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People's Republic of China.

DQ Daqo New Energy

 

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 website when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • 429.40+ Weighted Alpha
  • 387.19% gain in the last year
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 88.52% gain in the last year
  • Relative Strength Index 86.84%
  • Technical support level at  196.07
  • Recently traded at 212.22 with a 50 day moving average of 129.07

Fundamental factors:

  • Market Cap $2.73 billion
  • P/E 46.68
  • Revenue expected to grow 95.90% this year and another 14.90% next year
  • Earnings estimated to increase 220.40% this year, an additional 44.70% next year and continue to compound at an annual rate of 29.00% for the next 5 years
  • The individual investors following the stock on Motley Fool voted 55 to 23 that the stock will beat the market
  • 6,300 investors are monitoring the stock on Seeking Alpha

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