Tuesday, February 28, 2017

Merit Medical Systems - Chart of the Day

Merit Medical Systems (MMSI) is the Barchart Chart of the Day.  The medical device company has a Trend Spotter buy signal, a Weighted Alpha of 69.10+ and gained 65.41% in the last month.

The Chart of the Day belongs to Merit Medical Systems (MMSI).  I found the medical devices stock by using Barchart to sort today's All Time High list first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or better.  Since the Trend Spotter signaled a buy on 2/8 the stock gained 13.65%.

Merit Medical Systems, Inc. was formed for the purpose of producing single-use medical products of high quality and superior value primarily for use in diagnosis and treatment of cardiovascular disease. The company's products are designed to provide physicians and other health care professionals with devices that enable them to perform interventional and diagnostic procedures safely and effectively.

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:

  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100  day moving averages
  • 17 new highs and up 21.98% in the last month
  • Relative Strength Index 76.71%
  • Technical support level at 30.58
  • Recently traded at 30.80 with a 50 day moving average of 26.76
Fundamental factors:
  • Market Cap $1.4 billion
  • P/E 29.02
  • Revenue expected to grow 18.30% this year and another 5.50% next year
  • Earnings estimated to increase 15.80% this year, an additional 14.50% next year and continue to compound at an annual rate of 10.00 for the next 5 years
  • Wall Street analysts issued 3 buy and 1 hold recommendation on the stock

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