The Chart of the day belongs to Medivation (MDVN). I found the stock by sorting the All Time New High list for new high frequency in the last month, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 7/23 the stock has gained 24.49%.
MDVN is a biopharmaceutical company that acquires promising technologies in the late preclinical development phase and develops them quickly and cost-effectively. Medivation's current portfolio consists of small molecule drugs in development to treat three large, unmet medical needs Alzheimer's disease, Huntington's disease and hormone-refractory prostate cancer. The Company intends to build and maintain a portfolio of four to six development programs at all times. The Company had built a portfolio of innovative medical technologies and a team of employees and seasoned consultants with significant expertise in the identification, evaluation, acquisition, development and sale/partnering of small molecule therapeutics, biotechnology products and medical devices.
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:
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 19.72% in the last month
- Relative Strength Index 78.27%
- Barchart computes a technical support level at 90.67
- Recently traded at 96.89 with a 50 day moving average of 81.22
Fundamental factors:
- Market Cap $7.41 billion
- P/E 342.52
- Revenue predicted to increase 134.60% this year and another 29.30% next year
- Earnings estimated to increase 528.10% this year and an additional 24.49% next year
- Wall Street analysts issued 7 strong buy, 7 buy, 4 hold and 1 under perform recommendations on this stock
In the past the price vs the 50 day moving average has been the best technical indicator for trading this stock.
