The Chart of the Day belongs to Legacy Reserves (LGCY).   I found the oil and gas LP by using Barchart to sort today's New 52 Week High list first by the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation in the last 6 month period.  Since the Trend Spotter signaled a buy in 1/2 the stock gained 265.82%.

Legacy Reserves LP is an independent oil and natural gas limited partnership headquartered in Midland, Texas, and is focused on the acquisition and exploitation of oil and natural gas properties primarily located in the Permian Basin and Mid-continent regions.


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.comweb site when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • 179.32+ Weighted Alpha
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 9 new highs and up 44.07% in the last month
  • 153.51% gain in the last year
  • Relative Strength Index 75.54%
  • Technical support level at 5.23
  • Recently traded at 5.75 with a 50 day moving average of 3.84

Fundamental factors:

  • Market Cap $434 million
  • Revenue expected to grow 34.30% this year and another 12.60% next year
  • Earnings estimated to increase 163.40% this year, an additional 96.90% next year and continue to compound at an annual rate of 17.50% for the next 5 years
  • In spite of these projections the analyst following the stock thinks it will under perform the market