The chart of the day belongs to the ophthalmic devices company RxSight (RXST), states Jim Van Meerten of BarChart.com.
I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and a Trend Seeker buy signal. I then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/ 8 the stock gained 22.96%.
RXST Price vs Daily Moving Averages
RxSight, Inc., an ophthalmic medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers a RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 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 website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 264.50+ Weighted Alpha
- 324.22% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50, and 100-day moving averages
- 9 new highs and up 11.85% in the last month
- Relative Strength Index 63.06%
- Technical support level at $54.13
- Recently traded at $55.70 with a 50-day moving average of $47.06
Fundamental Factors:
- Market Cap 2.01 billion
- Wall Street projects Revenue will grow 47.60% this year and grow another 32.40% next year
- Earnings are estimated to increase 33.30% this year, increase an additional 26.60% next year, and continue to compound at an annual rate of 19.00% for the next 5 years
Analysts and Investor Sentiment: I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued five strong buy, and three buy recommendations this month
- Analysts price targets are $36 to $64—consensus price target $58
- Value Line rates the stock it's above average rating of two
- CFRAs MarketScope has a hold rating
- 1,120 investors monitor the stock on Seeking Alpha
Additional Disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least every week.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
