ShockWave Medical - Best Of The Best

The Barchart Chart of the Day belongs to the medical device company ShockWave Medical (SWAV). I found the stock by using Barchart's powerful screening functions to screen for the stock with the highest Weighted Alpha and technical buy signals. I then took the list of 327 stocks and sorted by the most frequent number of new highs in the last month and used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 7/29 the stock gained 21.74%

ShockWave Medical, Inc., a medical device company, develops and commercializes intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee peripheral artery disease. It serves interventional cardiologists, vascular surgeons, and interventional radiologists through sales representatives and sales managers, and distributors. The company operates in the United States, Germany, rest of Europe, and internationally. ShockWave Medical, Inc. was incorporated in 2009 and is headquartered in Santa Clara, California.

SWAV ShockWave Medical

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 website when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • 54.50+ Weighted Alpha
  • 47.34% gain in the last year
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 33.71% in the last month
  • Relative Strength Index 85.43%
  • Technical support level at 55.37
  • Recently traded at 59.98 with a 50 day moving average of 48.14

Fundamental factors:

  • Market Cap $1.87 billion
  • Revenue expected to grow 40.40% this year and an additional 91.60% next year
  • Earnings estimated to increase 30.50% next year and continue to compound at an annual rate of 50.50% for the next 5 years
  • Wall Street analysts issued 2 strong buy, 2 buy and 2 hold recommendations on the stock
  • The individual investors following the stock on Motley Fool voted 152 to 2 that the stock will beat the market
  • 3,560 investors are monitoring the stock on Seeking Alpha

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.
Moon Kil Woong 3 years ago Contributor's comment

An interesting company. Do you know what technology is a competitor and how they stack up and are there other stocks involved in this niche?