Wednesday, March 18, 2015

Zafgen - Barchart's Chart of the Day

Zafgen (ZFGN) is the Barchart Chart of the Day.  The pharmaceutical stock has a Trend Spotter buy signal, a Weighted Alpha of 155.10+ and gained 139.09% in the last year.

The Chart of the Day belongs to Zafgen (ZFGB).  I found the stock by sorting the All Time High list for the stocks with the best technical buy signals, then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 1/22 the stock gained 26.74%.

Zafgen, Inc. is a biopharmaceutical company. The Company develops therapeutics for patients suffering from obesity and obesity-related disorders. Its lead product candidate includes Beloranib, an injection that is in Phase II clinical trials for the treatment of various indications comprising obesity and hyperphagia in Prader-Willi Syndrome patients, craniopharyngioma-associated obesity, and severe obesity in the general population.

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 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
  • 8 new highs and up 21.67%
  • Relative Strength Index 74.19%
  • Barchart computes a technical support level at 43.95
  • Recently traded at 47.02 with a 50 day moving average of 39.25
Fundamental factors:
  • Market Cap $1.23 billion
  • This company is unproven and yet to have positive earnings.
  • Wall Street analysts issued 2 strong buy and 3 buy recommendations on the stock
  • The individual investors on Motley Fool voted 14 to 5 for the stock to beat the market
  • On Seeking Alpha only 127 readers have the stock on their watch list
This is a speculative play not an investment.  The 100 day moving average vs. price has been an effective technical trading strategy so far and should be used for entry and exit points.

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