The Chart of the Day belongs to Biospecifics Technologies (BSTC). I found the stock by sorting the All Time New High list for the highest technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 8/8 the stock gained 32.27%.
BSTC is engaged in the business of producing and licensing, for sale by others, a U.S. Food and Drug Administration approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 11 new highs and up 18.84% in the last month
- Relative Strength Index 80.49%
- Barchart computes a technical support level at 33.85
- Recently traded at 36.64 with a 50 day moving average of 30.46
Fundamental factors:
- Market Cap $234.50 million
- P/E 57.87
- Revenue to drop .30% this year but grow again by 126.90% next year
- Earnings estimated to decrease by 11.80% this year but increase again by 264.20% next year and continue to increase annually by 22.00% for the next 6 years
- Wall Street analysts issued 2 buy recommendations on the stock
Watch the 50 day moving average for signs of weakness and exit at the 100 day moving average.
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