The Chart of the Day belongs to the building materials company Boise Cascade (BCC) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 6/6 the stock gained 30.13%.
Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine lumber products. This segment's products are used in new residential construction, residential repair-and-remodeling markets, light commercial construction, and industrial applications. It sells its products to dealers, home improvement centers, wholesalers, specialty distributors, and industrial converters. The Building Materials Distribution segment distributes a line of building materials, including oriented strand boards, plywood, and lumber; general line items, such as siding, composite decking, doors, metal products, insulation, and roofing; and engineered wood products. This segment sells its products to dealers, home improvement centers, and specialty distributors. The company was incorporated in 2004 and is headquartered in Boise, Idaho.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 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
- 73.30+ Weighted Alpha
- 64.82% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 14 new highs and up 29.10% in the last month
- Relative Strength Index 84.24%
- Technical support level at $97.43
- Recently traded at $100.07 with 50 day moving average of $52.75
Fundamental Factors:
- Market Cap $3.92 billion
- Revenue projected to grow 2.90% next year
- Earnings estimated to decrease by 4.70% next year
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:
- Wall Street analyst gave 2 strong buy, and 4 hold opinions on the stock
- Analysts price targets are $78 to $303 - wide range with a consensus of $95 for a 5% loss
- The individual investors on Motley Fool are high on the stock and voted 21 to 2 for the stock to beat the market with the more experienced investors voting 5 to 1 for the same result
- Value Line ranks the stock an average 3 but an 18 month price target of $73 for a 25% loss
- CFRAs MarketScope rates it a buy
- 4,820 investors monitor the stock on Seeking Alpha
Disclosure: I/we have stock, option or similar derivative position in Boise Cascade (BCC)
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
