In his second 'Executive Decision' segment of Mad Money Thursday night, Jim Cramer checked in with Mike McMullen, CEO of Agilent Technologies (A) , the life sciences company helping in the fight to beat Covid-19.
McMullen said Agilent is active in virus research, virus testing and vaccine development. In the area of testing, he said Agilent provides key ingredients for the testing process and has technology to help provide test results faster.
When asked about the possibility of a vaccine, McMullen said it's not a matter of if we have a vaccine, but when.
Let's check out the charts of A.
In this daily bar chart of A, below, we can see that prices made a low and a retest in March. Prices have been pointed up since around the middle of March with the daily On-Balance-Volume (OBV) line creeping upwards and the Moving Average Convergence Divergence (MACD) oscillator now poised to cross back above the zero line for an outright go long signal.
Prices are above the bottoming 50-day moving average line and the rising 200-day moving average line.
In this weekly bar chart of A, below, we get a different perspective on the decline A suffered this year - here we see prices corrected back down into a long consolidation pattern. Things are looking up with the OBV line improving and the MACD oscillator narrowing.
In this Point and Figure chart of A, below, we can see a potential upside price target in the $92 area.
Bottom line strategy: A has retraced half of its January-March decline and it looks poised for further strength. Longs should risk below $73 and look for $92 on the upside.