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JimVanMeerten (62.38)

Reynolds American keep on puffing

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June 01, 2011 – Comments (0) | RELATED TICKERS: RAI

This afternoon I was using Barchart to screen for the S&P 500 companies hitting the most frequent new highs and I was surprised to see how many tobacco companies floated to the top.  One of those companies was Reynolds American (RAI) which hit 13 new highs and was up 6.95% in the last month. The price momentum is great but income investors like the 5.90% dividend.

Reynolds American Inc. (RAI) is the parent company of R.J. Reynolds Tobacco Company, Santa Fe Natural Tobacco Company, Inc., Lane Limited and R.J. Reynolds Global Products, Inc. R.J. Reynolds Tobacco Company, the second- largest U.S. tobacco company, manufactures about one of every three cigarettes sold in the United States, including five of the nation's 10 best-selling brands: Camel, Winston, KOOL, Salem and Doral. Santa Fe Natural Tobacco Company, Inc. manufactures Natural American Spirit cigarettes.

Barchart Technical Indicators:

1 - 96% Barchart technical buy signal

2 - Trend Spotter buy signal

3 - Above its 20, 50 and 100 day moving average

4 - 13 new highs and up 6.95% in the last month

5 - Relative Strength Index is 73.86% and rising

6 - Trades around 39.70 with a 50 day moving average of 37.08

Jim Van Meerten is a Marketocracy Master

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