The Chart of the Day belongs to Abaxis (ABAX). I found the stock by sorting the All Time High list for the highest technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 7/25 the stock gained 14.23%.
ABAX develops, manufactures and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The Company's primary product is a system consisting of a compact 6.9 kilogram analyzer and a series of single-use plastic discs called reagent discs containing all the chemicals required to perform a panel of up to 12 tests. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma using either venous or fingerstick samples.
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
- 13 new highs and up 15.27% in the last month
- Relative Strength Index 78.80%
- Barchart computes a technical support level at 48.88
- Recently traded at 52.37 with a 50 day moving average of 46.01
Fundamental factors:
- Market Cap $1.18 billion
- P/E 72.34
- Dividend yield .79%
- Revenue expected to grow 16.60% this year and another 10.90% next year
- Earnings estimated to increase 50.80% this year, an additional 25.30% next year and continue to increase at an annual rate of 20.00% for the next 5 years
- Wall Street analysts issued 2 strong buy and 7 hold recommendations
Watch the moving averages for weakness and exit at the price vs. 100 day moving average
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