The Barchart Chart of the Day is Ohr Pharmaceutical (NASDAQ:OHRP). I found the stock by sorting the today's All Time High list for frequency in the last month then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy in 12/20 the stock gained 19.32%.
OHRP is a pharmaceutical company. It is focused on the development of novel therapeutics for the treatment of cancer cachexia, wet form of age-related macular degeneration and ophthalmic neovascularization disorders.
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
- 12 new highs and up 22.77% in the last month
- Relative strength Index 70.83%
- Barchart computes a technical support level at 9.00
- Recently traded at 9.76 with a 50 day moving average of 8.30
- Market Cap $194.91 million
- There is only 1 analysts following the stock and the recommendation is a strong buy
- Since there is only 1 analyst there is no consensus estimates
I'd like you to take a look at the chart above and notice how the volume is picking up. That's a good sign that the stock is accumulating a new following. Watch the 50 day moving average for signs of weakness and use the 100 day moving average as your stop loss.