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• 100% technical buy signals
• 14 new highs and up 29.83% in the last month
• 35.11+ Weighted Alpha

Caution: This company has had legal issues in the past. It is highly speculative.

 The Chart of the Day belongs to the oncology company Summit Therapeutics (SMMT). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 12/ 1 the stock gained 86.92%.

(Click on image to enlarge)

SMMT Price vs Daily Moving Averages

Summit Therapeutics Inc., a biopharmaceutical company, research and develops primarily oncology therapies in the United States and the United Kingdom. The company's product pipeline includes SMT-738, a novel class of precision antibiotics for treatment which is in preclinical stage for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections. It has a collaboration and license agreement with Akeso, Inc. for research and develop Ivonescimab (AK112) and SMT112, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis. The company was founded in 2003 and is headquartered in Cambridge, Massachusetts.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 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 website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 68.89+ Weighted Alpha
• 6.75% gain in the last year
• Trend Seeker buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 86.92% in the last month
• Relative Strength Index 81.17%
• Technical support level at $4.15
• Recently traded at $4.43 with 50 day moving average of $2.25

Fundamental Factors:

• Market Cap $2.87 billion
• Per CFRAs MarketScope Wall Street projects Revenue will grow 33% this year

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• Wall Street analysts issued 3 strong buy and 3 buy recommendations last month
• CFRAs MarketScope has a hold rating 
• 3,480 investors monitor the stock on Seeking Alpha

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