Why Barchart’s Top Technical Analysis Expert Isn’t Adding This Hot Stock (Up 220%) to His Portfolio

Calumet (CLMT) exhibits strong technical momentum, with shares setting a new all-time high on Friday, Sept. 18.

Shares are up more than 220% over the past year.

Analyst sentiment is divided with price targets ranging from $40 to $75.

I remain cautious due to inconsistent future revenue and earnings expectations, despite exceptional recent price appreciation.

Valued at $5.2 billion, Calumet (CLMT) manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets.

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 and superior current momentum. I then used Barchart's Flipcharts feature to review the charts for consistent price appreciation. CLMT checks those boxes. The Trend Seeker issued a new "Buy" signal on Aug. 10. The stock has gained 31.02% since that signal.

Barchart's Technical Indicators for Calumet

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.

Calumet scored an all-time high of $59.64 on Sept. 18.

CLMT has a 100% "Buy" opinion from Barchart.

The stock has gained 220.64% over the past 52 weeks.

Calumet has its Trend Seeker "Buy" signal intact.

The stock recently traded at $59.23 with a 50-day moving average of $47.36.

CLMT had 10 highs and gained 17.25% in the last month.

Relative Strength Index (RSI) is at 77.03.

There's a technical support level around $57.80.

Revenue is projected to grow 19.21% this year but be down by 4.91% next year.

Earnings are estimated to decrease by 466.48% this year but increase again by 123.51% next year.