The Chart of the Day belongs to Ophthoteck (OPHT). I found the biopharmaceutical stock by using Barchart to sort the Russell 3000 Index stocks first for the highest number of new highs in the last month, then again for technical buy signals of 80% or more. I used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 10/23 the stock gained 64.78%.
Ophthotech Corporation is a biopharmaceutical company. It is focused on developing and commercializing novel therapies for the treatment of diseases of the eye. The Company is developing Fovista and ARC1905, which are under clinical trials, for the treatment of wet AMD. Ophthotech Corporation is headquartered in New York.
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 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
- 12 new highs and up 25.88% in the last month
- Relative Strength Index 73.36%
- Barchart computes a technical support level at 69.12
- Recently traded at 76.74 with a 50 day moving average of 56.53
- Market Cap $2.67 billion
- Revenue expected to grow 29.00% this year and decrease 25.60% next year
- Earnings are estimated to decrease 15.60% this year and another 58.40% next year
- Despite these poor projections analysts issued 4 strong buy, 4 buy, 1 hold and 1 under perform recommendations on this stock