Thursday, May 21, 2015

Omnicare - All Time High

Omnicare (OCR) is the Barchart Chart of the Day.  The medical services company has a Trend Spotter buy signal, a Weighted Alpha of 61.97+, gained 53.57% last year and paid a .95% dividend.

The Chart of the Day belongs to Omnicare (OCR).  I found the stock by sorting today's 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 in 3/18 the stock gained 21.95%.

Omnicare, Inc., a Fortune five hundred company based in Covington, Kentucky, is a leading provider of pharmaceutical care for the elderly. Omnicare serves residents in long-term care facilities and other chronic care settings comprising beds in fourteen states, the District of Columbia and Canada. Omnicare is the largest U.S. provider of professional pharmacy, related consulting and data management services for skilled nursing, assisted living and other institutional healthcare providers as well as for hospice patients in homecare and other settings. Omnicare's pharmacy services also include distribution and patient assistance services for specialty pharmaceuticals. Omnicare offers clinical research services for the pharmaceutical and biotechnology industries in thirty countries worldwide.

The status of 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
  • 9 new highs and up 18.32% in the last month
  • Relative Strength Index 82.24%
  • Barchart computes a technical support level at 91.50
  • Recently traded at 95.92 with a 50 day moving average of 82.80
Fundamental factors:
  • Market Cap $9.29 billion
  • P/E 24.05
  • Dividend yield .95%
  • Revenue expected to grow 4.70% this year and another 6.00% next year
  • Earnings estimated to increase by 11.80% this year, an additional 10.80% next year and continue to increase at an annual rate of 13.15% for the next 5 years
  • Wall Street analysts issued 1 strong buy , 5 buy and 3 hold recommendations on the stock
The most reliable technical trading strategy on this stock has been the 100 day moving average vs. the price.  I'd recommend you continue to use it to gauge entry and exit points.

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