The Chart of the Day is Receptos (RCPT). With the soft market where 64% of all stocks are trading below their 20 day moving averages I decided to see what stocks hit an all time new highs today. There weren't many so I sorted for new high frequency in the last month, eliminated those that didn't have positive returns in the last week and month and used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on12/5 the stock gained 56.58%.
Receptos, Inc. is a biopharmaceutical company. It develops therapeutic for the treatment of immune and metabolic diseases.
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% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 48.92% in the last month
- Relative Strength Index 74.60%
- Barchart computes a technical support level at 41.41
- Recently traded at 43.05 with a 50 day moving average of 29.14
Fundamental factors:
- Market Cap $787.52 million
- Revenue predicted to grow by 75.20% next year
- Earnings are estimated to increase by 51.00% next year
- Wall Street analysts issued 2 strong buy and 2 buy recommendations on the stock
Even is a terrible market there will always be a few salmon swimming against the current. Watch this one closely because few stocks can fight the rip current for too long. Watch the 50 day moving averages.
I do not hold a position in this stock.
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