Costamare (CMRE) has strong technical momentum and just set a new 52-week high.
Shares have a 100% technical “Buy” opinion from Barchart.
CMRE stock is up nearly 30% in just the last month.
Analyst sentiment is mixed, but Morningstar sees CMRE as 19% undervalued and Seeking Alpha rates it a “Strong Buy.”
Valued at $1.9 billion, Costamare (CMRE) is a containership owner chartering its vessels to liner companies. The company deploys its containership fleet principally under multi-year time charters with leading liner companies that operate regularly scheduled routes between large commercial ports.
Costamare also provides a range of shipping services, such as technical support and maintenance, insurance consulting, financial and accounting services. Costamare is headquartered in Athens, Greece.
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. CMRE checks those boxes. Since the Trend Seeker signaled a new “Buy” on Nov. 3, the stock has gained 29.61%.
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each 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. These technical indicators form the Barchart Opinion on a particular stock.
Costamare hit a 52-week high of $16.25 in trading on Dec. 3.
CMRE has a Weighted Alpha of +49.62.
Costamare has a 100% “Buy” opinion from Barchart.
The stock gained 21.97% over the past year.
CMRE has its Trend Seeker “Buy” signal intact.
The stock recently traded at $16.08 with a 50-day moving average of $12.95.
Costamare has made 15 new highs and gained 29.53% in the last month.
Relative Strength Index (RSI) is at 81.54.
There’s a technical support level around $15.50.
