A Real Money subscriber emailed me about Fluidigm Corp. (FLDM) , a company that is an industry-leading biotechnology tools provider. We have not reviewed the stock since March 12, 2019, when a caller during the "Lightning Round" of Mad Money asked Jim Cramer about it.
We wrote that, "FLDM is emerging from an impressive base pattern. Aggressive traders could go long FLDM at current levels risking a close below $10 while looking for gains to $14.25 and probably $22 longer term."
Prices got up to our $14.25 target in March and then declined to a slight new low. What do the charts look like now?
In this daily bar chart of FLDM, below, we can see that prices have surged higher since making a low in March. FLDM is trading above the rising 50-day moving average line and the bullish 200-day moving average line.
The On-Balance-Volume (OBV) line has moved up strongly since late April and tells me that buyers of FLDM have been very aggressive.
The Moving Average Convergence Divergence (MACD) oscillator turned bullish in late April when it moved above the zero line.