For his final "Executive Decision" segment of Wednesday's Mad Money program, Jim Cramer checked in with Michael McMullen, president and CEO of Agilent Technologies (A) , the diagnostics and testing company.
McMullen attributed Agilent's success to its focus on employees and customers.
McMullen noted that while Agilent's COVID-related businesses are strong, it's more important to note the 26% growth in core, non-COVID related businesses. Agilent has grown $1 billion of new business since the pandemic began.
Finally, McMullen was bullish on Agilent's "build-and-buy" strategy approach to growth. He said the recent acquisition of Resolution Biosciences is just the latest deal for the company. He said with the rise of precision medicine comes a need for precision testing to see if these many new therapies will work for you.
Let's check out the charts of A.
In this daily bar chart of A, below, we can see a strong and durable uptrend. Pullbacks and corrections have been relatively shallow and short-lived. Prices are above the rising 50-day moving average line and the bullish 200-day line. The On-Balance-Volume (OBV) line is bullish and pointed higher. The Moving Average Convergence Divergence (MACD) oscillator is positive.
In this weekly Japanese candlestick chart of A, below, we can see a bullish picture. A made a large base pattern around $70 that has supported a double in price. A is trading above the rising 40-week moving average line.
The weekly OBV line is pointed higher and tells us that buyers of A have been more aggressive the past three years. The MACD oscillator is in a bullish alignment above the zero line.
In this daily Point and Figure chart of A, below, we can see a price target in the $170 area.
In this weekly close only Point and Figure chart of A, below, we can see a potential price target of $255.
Bottom line strategy: The last review of the charts of A was way back on June 4, 2020 when we wrote that "Traders could go long A on a dip into the $90-$88 area risking a close below $84. $99 and then $123 area our price targets." If you are still long A I would raise stop protection to $149. The $200 area is our next price target.