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Abiomed - All Time High

Topic: Stock Price Movements — Technical Analysis
Aug. 6 2015, 5:40 PM ET - by VF member vanmeerten (903 gold star (click for information on feedback))

Abiomed - All Time High --

The Chart of the Day belongs to Abiomed (ABMD). I found the medical products stock by using Barchart to sort today's All Time High list for the stocks with the highest Weighted Alpha then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 6/19 the stock gained 39.26%.

Abiomed, Inc. is a developer, manufacturer and marketer of medical products designed to safely and effectively assist or replace the pumping function of the failing heart. The company currently manufactures and sells the BVS-5000, a temporary heart assist device, which is approved by the U.S. Food and Drug Administration for the temporary treatment of all patients with failing but potentially recoverable hearts. The company is also engaged in research and development relating to other devices to support the pumping function of the heart.

The status of 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:

100% Barchart technical buy signals
217.32+ Weighted Alpha
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
14 new highs and up 43.56% in the last month
Relative Strength Index 87.34%
Barchart computes a technical support level at 87.46
Recently traded at 94.32 with a 50 day moving average of 68.96

Fundamental factors:

Market Cap $3.88 billion
P/E 102.07
Revenue expected to grow 34.60% this year and another 21.40% next year
Earnings estimated to increase by 9.50% this year, an additional 49.30% next year and continue to increase at an annual rate of 17.67% for the next 5 years
Wall Street analysts issued 4 strong buys, 1 buy, 5 hold and 1 under perform recommendation on this stock

The 100 Day Moving Average vs price has been a reliable technical trading strategy to use on this but using the 200 DMA vs Price would have resulted in fewer trades.


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Abiomed - All Time High