Credit score company Fair Isaac (FICO) has nearly doubled in price in the past 12 months. Let's check out the charts and indicators to see what could be in store for this firm - checking the charts will not affect your credit score.
In this daily bar chart of FICO, below, I can see a "ruler ready" uptrend from mid-November. Prices trade above the rising 50-day and 200-day moving average lines. The trading volume is uninspiring but the On-Balance-Volume (OBV) line shows a rise from June to March. A volume spike in March hurts the uptrend in the OBV line but not the price trend.
The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of FICO, below, I see a bullish picture but I cannot ignore the upper shadows on several of the recent candles. The upper shadows tell me that traders are rejecting the highs but this has not translated into a correction. The slope of the 40-week moving average line is very positive.
The weekly OBV line has turned but the past three months. The MACD oscillator is bullish but has been correcting the past three months.
In this daily Point and Figure chart of FICO, below, I can see a price target of $849.
In this weekly Point and Figure chart of FICO, below, I see a price target in the $954 area.
Bottom line strategy: The Point and Figure charts of FICO suggest we could see much higher prices in the months ahead while the candlestick chart suggests some caution is a good idea. Keep your powder dry for now.
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