The Chart of the Day belongs to CommunityOne Bancorp (NASDAQ:COB), I found the southeastern commercial bank stock by using Barchart to sort the Russell 3000 Index stocks first for a Weighted Alpha of at least 50.00+, then again for technical buy signals of 80% or better. Since the Trend Spotter signaled a buy on 9/24 the stock gained 24.84%.

CommunityOne Bancorp is a bank holding company. It offers personal and commercial banking services which include loans, deposits, cash management, wealth, mortgage and online banking to businesses, professionals and individuals. The company operates primarily in Alamance, Alexander, Ashe, Burke, Caldwell, Catawba, Chatham, Gaston, Guilford, Iredell, Mecklenburg, Montgomery, Moore, Orange, Randolph and Richmond, Rowan, Scotland, Watauga and Wilkes counties in North Carolina. CommunityOne Bancorp, formerly known as FNB United Corp., is based in Asheboro, United States.

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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% Barchart technical buy signals
  • 55.60+ Weighted Alpha
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 25.30% in the last month
  • Relative Strength Index 73.39%
  • Barchart computes a technical support level at 12.88
  • Recently traded at 13.47 with a 50 day moving average of 10.92

    • Fundamental factors:

  • Market Cap $ 325.70 million
  • P/E 24.33
  • Revenue expected to grow 6.70% this year and another 8.60% next year
  • Earnings estimated to decrease 6.80% this year but increase again by 26.80% next year and continue to compound at an annual rate of 8.00% for the next 5 years
  • Wall Street analysts issued 1 buy and 1 hold recommendation on the stock
  • The 50 Day Parabolic Time/Price indicator has been the most reliable technical trading strategy for this stock.
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