Every month, I share the charts of a stock which sits on my watchlist.
Watchlist stocks result of a nightly market scan for stocks that attract attention by displaying characteristics signalling a potential entry into Stage II. This market scan uses a "Stockcharts" scan syntax I personally developed, in order to identify stocks likely to display the characteristics of stocks entering Stage II, as described by Stan Weinstein. The principal scan criteria are basically set to identify stocks whose price is above their 150-day Moving Average and whose usual daily volume is at least 50,000 and exceed by a margin of 3:1 the usual volume evels displayed in the last 2 months.
This month, Eacom Timber Corporation is the "Freebie of the Month".
EACOM Timber Corporation ("EACOM") is a global timber company formed in 2008. Its head office is located in Montreal, Quebec, with regional offices located in Timmins, Ontario and Val d'Or, Quebec.
EACOM is one of the major producers in the Eastern Canadian timber industry. Operations include the manufacturing, marketing and distribution of lumber and wood-based value-added products, and the management of forest resources. EACOM currently owns eight sawmills in Ontario and Quebec, one remanufacturing facility and a partnership operation. It has a production capacity of approximately 900 million board feet of lumber and holds Crown logging rights of approximately 3.5 million cubic meters annually.
EACOM Timber Corporation's President and CEO is Rick Doman. His vision is to create a globally competitive lumber company. An important step towards this goal was the acquisition of Domtar Forest Products Division, completed on June 30th, 2010.
EACOM's mission is to optimize the Canadian forestland through certified and sustainable forest management practices that will ensure a lasting supply of wood for future generations.