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Chart of the Day: Ship It Danaos
The Chart of the Day belongs to the marine shipping company Danaos (DAC) . 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 4/4 the stock gained 30.96%.
Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity. The company was formerly known as Danaos Holdings Limited and changed its name to Danaos Corporation in October 2005. Danaos Corporation was founded in 1963 and is based in Piraeus, Greece.
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
- 69.29+ Weighted Alpha
- 66.27% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 26.48% in the last month
- Relative Strength Index 84.65%
- Technical support level at $95.29
- Recently traded at $96.77 with 50 day moving average of $78.38
Fundamental Factors:
- Market Cap $1.88 billion
- P/E 3.30
- Dividend yield 2.43%
- Revenue expected to grow 3.10% this year
- Earnings estimated to increase 360% tis year and continue to compound at an annual rate of 3.00% for the next 5 years
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 analysts issued 1 strong buy, 1 hold recommendation
- Analysts have price targets between $79 and $105
- Value Line rates the stock an average rating of 3
- CFRAs MarketScope has a buy rating
- MorningStar gives the stock an above average 4 star rating with a Fair Value of $116.25
- 17,760 investors monitor the stock on Seeking Alpha
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.
