This morning I used Barchart to sort the S&P 400 Mid Cap Index stocks to find which ones had the most frequent new highs in the last month, then used the Flipchart feature to review the charts. Right near the top of the list was RF Micro Devices (RFMD):
Barchart technical indicators:
- 96% Barchart technical buy signals
- Trend Spotter buy signal - up 30.12% since the buy signal
- Above its 20, 50 and 100 day moving averages
- 14 new highs and up 18.42% in the last month, 211.93% in the last year
- Relative Strength Index 70.5%
- Barchart computes a technical support level at 15.15
Fundamental factors:
- Market Cap $4.25 billion
- P/E 22.22
- Revenue expected to grow 23.80% this year and another 12.10% next year
- Earnings estimated to increase 145.70% this year, an additional 12.40% next year and continue to compound at an annual rate of 17.27% for at least the next 5 years
- Wall Street analysts issued 6 strong buy, 8 buy and 2 hold recommendations on the stock
The 50 day moving average vs. the price has been the most effective technical trading strategy on this stock and should be used as an exit point.