The Chart of the Day is Synageva Biopharma (NASDAQ:GEVA). I found the stock by sorting the New High List for frequency. Since analysts predict short term losses in both revenue and earnings this is a long term play. The stock has both a Trend Spotter buy and 96% technical buy signals.
It is a biopharmaceutical company focused on the discovery, development, and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical need. Its SBC-102 is an enzyme replacement therapy for Lysosomal Acid Lipase Deficiency, a lysosomal storage disorder.
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:
- 96% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 18 new highs and up 42.87% in the last month
- Relative Strength Index 86.84%
- Barchart computes a technical support level at 67.19
- Recently traded at 68.98 with a 50 day moving average of 51.60
- Market Cap $1.88 billion
- Revenue and earnings projections are down for the short run
- In spite of this Wall Street analysts issued 3 strong buy 2 buy and 2 hold recommendations
- Financial strength is B+
This is a pure technical play since revenue and earnings are not projected to grow in the short run. Analyst look for the new stock offering to be used for development of a pipeline of new drugs. Since this is a long term technical play use the 100 day moving average as your exit points