Chart of the Day - Valspar Corp (VAL)

The "Chart of the Day" is Valspar Corp (VAL), which showed up on Friday's Barchart "All-Time High" list. Valspar on Friday posted a new all-time high of $52.12 and closed up +2.40%. TrendSpotter has been Long since April 16 at $50.23. TrendSpotter was in a neutral mode in the second week of April after taking a 31% profit on a long trade held from late November to early April. In recent news on the stock, Valspar on Feb 14 reported Q1 EPS of 58 cents, above the consensus of 48 cents. Gabelli on Feb 28 initiated coverage on Valspar with a Buy due to the potential housing recovery and Valspar's debt reduction and margin improvement efforts. Valspar, with a market cap of $4.7 billion, is a global leader in the paint and coatings industry, with a broad range of products including industrial, architectural, packaging, automotive refinish and floor coatings, and specialty polymers and colorants.