The Chart of the Day belongs to Loxo Oncology (LOXO). I found the pharmaceutical preparations stock by using Barchart to sort the Russell 3000 Index stocks first by technical buy signals, then again my Weighted Alpha. I then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 9/2 the stock gained 7.72%.
Loxo Oncology, Inc. is a biopharmaceutical company. It develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. Loxo Oncology, Inc. is headquartered in Stamford, Connecticut.
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
- 73.47+ Weighted Alpha
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 3 new highs and up 3.15% in the last month
- Relative Strength Index 66.39%
- Barchart computes a technical support level at 20.48
- Recently traded at 22.61 with a 50 day moving average of 19.20
Fundamental factors:
- Market Cap $377.36 million
- Revenue expected to grow 36.90% this year
- Although Wall Street analysts did not post complete Revenue and Earnings projections they still released 2 strong buy and 2 buy recommendations on the stock
- The individual investors on Motley Fool voted 4 to 1 that the stock will beat the market
Most of the regular technical trading strategies were not reliable on this stock so I'd suggest a trailing stop loos to preserve your profits.
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