Bluebird Bio - Barchart's Chart of the Day

Bluebird Bio (BLU) is the Barchart Chart of the Day.  The Biomedical company has a Trend Spotter buy signal, a Weighted Alpha of 106.05+ and gained 348.14% in the last year.  WHY?

The Chart of the Day belongs to Bluebird Bio (BLU).  I found the stock by sorting the All Time High list for the stock with the highest technical buy signals then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled another by on 3/2 the stock gained 21.38%.

Bluebird Bio, Inc. is a biotechnology company. It focuses on the development, manufacture and marketing of therapies for severe genetic disorders such as childhood cerebral adrenoleukodystrophy, neurodegenerative disorders and beta-thalassemia.

 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
• 16 new highs and up 3.59% in the last month
• Relative Strength Index 81.70%
• Barchart computes a technical support level at 111.21
• Recently traded at 118.22 with a 50 day moving average of 96.25

Fundamental factors:

• Market Cap $3.38 billion
• Revenue expected to decline 42.60% next year
• Earnings estimated to decrease 42.60% this year, an additional 17.20% next year and continue to decline at an annual rate of 9.10% for the next 5 years
• In spite of this Wall Street analysts issued 2 strong buy and 5 buy recommendations

The 20-100 Day MACD oscillator has been an extremely good technical trading strategy on this stock.  Ok let's be honest; if you believe the declines predicted in revenue and earnings why are these analysts issuing buy recommendations?  Why is Finny Kuruvilla of the Eventide Gilead Fund accumulating shares???  Something isn't right when revenue and earnings projections, analysts recommendations and price increases make no sense.  Not an investment for the faint of heart, but someone is going to make some money and some lambs will be slaughtered..