Bio-Techne: Recent Weakness, Charts Suggest It's Now A Buy (Technical Analysis)

Zach Bristow profile picture
Zach Bristow
2.45K Followers

Summary

  • Bio-Techne has endured a beating on the chart in FY22 as investors unwound health care and medtech positions en masse.
  • After 4x attempts to recover its FY21 highs, TECH looks to have potentially bottomed as weekly volume gathers steam.
  • There's good confluence to suggest a price objective range between $334 and $369.
  • Net-net I rate TECH a speculative buy.

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janiecbros

Investment Summary

I am re-rating Bio-Techne Corp. (NASDAQ:TECH) following my previous analysis, with the view the market has over-extended its selloff of the stock. After reaching new lows in FY22, the downside move for TECH looks to have exhausted, and

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Image: HB Insights, TECH SEC Filings

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Data: HB Insights, TECH SEC Filings

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Data: HB Insights, TECH SEC Filings

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Data: Updata

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Data: Updata

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Data: Updata

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Data: Updata

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Data: Updata

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Data: Updata

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Data: HB Insights, TECH SEC Filings

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Data: HB Insights Estimates

This article was written by

Zach Bristow profile picture
2.45K Followers
Buy side equity portfolio strategist serving mandates throughout EU/US/APAC. Helping you position your portfolios for the future is my top priority. Shoot me a message to discuss trade ides or talk portfolio construction. Disclaimer:The opinions expressed in all articles do not constitute as investment advice. Please remember to conduct your own due diligence.

Disclosure: I/we have a beneficial long position in the shares of TECH either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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