Fulgent Genetics - New All-Time High

Summary

  • 100% technical buy signals.
  • 7 new highs and up 49.02% in the last month.
  • 424.66% gain in the last year.

The Barchart Chart of the Day belongs to the medical diagnostics and research company Fulgent Genetics (Nasdaq : FLGT).  I went on the assumption that stocks that have consistently hit new highs might continue to hit new highs.  I sorted Barchart's New All-Time High list by the highest Weighted Alpha then used the Flipchart feature to review the charts for consistent upward momentum.  Since the Trend Spotter signaled a buy on 11/16 the stock gained 40.94%.

Fulgent Genetics, Inc., together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, adaptive learning software, and genetic diagnostics tools, and integrated laboratory processes. The company primarily serves hospitals and medical institutions. It sells its tests through internal sales force, as well as through independent sales representatives in the United States and internationally. Fulgent Genetics has collaboration with PWNHealth to provide at-home Covid-19 test capabilities. The company was formerly known as Fulgent Diagnostics, Inc. and changed its name to Fulgent Genetics, Inc. in August 2016. Fulgent Genetics, Inc. was founded in 2011 and is headquartered in Temple City, California.

(Click on image to enlarge)

FLGT Fulgent Genetics

Barchart technical indicators:

  • 100% technical buy signals
  • 450.68+ Weighted Alpha
  • 424.66% gain in the last year
  • Trend Spotter buy signal
  • Above its 20, 50, and 100 day moving averages
  • 7 new highs and up 49.02% in the last month
  • Relative Strength Index 74.95%
  • Technical support level at 54.88
  • Recently traded at 62.24 with a 50 day moving average of 43.06

Fundamental factors:

  • Market Cap $1.44 billion
  • P/E 25.54
  • Revenue expected to grow 776.90% this year and another 29.30% next year
  • Earnings estimated to increase 2,605.30% this year, an additional 4.30% next year and continue to compound at an annual rate of 124.06% for the next 5 years
  • Wall Street analysts issued 2 strong buy and 1 hold recommendation on the stock
  • The individual investors following the stock on Motley Fool voted 250 to 3 that the stock will beat the market
  • 7,830 investors are monitoring the stock on Seeking Alpha
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Disclosure: None.

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