The Chart of the Day belongs to Churchill Downs (CHDN). I found the gaming stock by using Barchart to sort today’s Top Stocks to Own list first for the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 11/2 the stock gained 12.78%.
Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby. Churchill Downs, Inc. has Five racetracks; Six casinos; Big Fish Games, the world’s largest distributor of casual games; The country’s leading online wagering business, TwinSpires.com; A video poker business, A multi-state network of off-track betting (OTB) facilities; and a collection of racing-related data, totalisator and telecommunication companies that support CDI’s sports and gaming operations. CDI owes much to its horse racing heritage and is expanding on that tradition while evolving its business mix, management team and growth strategies to navigate any challenges. CDI’s launch of TwinSpires.com, an advance-deposit waging platform that allows customers to wager on horse racing from computers, tablet devices and smart phones, created another retail outlet for wagering transactions and data distribution.
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:
- 100% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 10.72% in the last month
- Relative Strength Index 79.74%
- Technical support level at 230.70
- Recently traded at 236.60 with a 50 day moving average of 211.97
- Market Cap $3.60 billion
- P/E 33.52
- Dividend yield .65%
- Revenue expected to be down 16.30% next year
- Earnings estimated to increase 28.70% this year, an additional 19.40% next year and continue to compound at an annual rate of 12.00% for the next 5 years
- Wall Street analysts issued 2 buy and 3 hold recommendations on the stock
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