With the Covid-19 pandemic, many patients are being sent home for quarantine, making the need for reliable monitoring crucial.
Let's check out the charts of MASI.
In this daily bar chart of MASI, below, we can see that prices dipped in February and March to retest key support around $150 before resuming its uptrend. Prices are up sharply over the past five weeks or so. The slopes of both the 50-day moving average line and the slower-to-react 200-day moving average line are positive.
Trading volume has been heavier than average the past two months or so which is a good sign for the bulls as more investors are buying into MASI's positive story.
The On-Balance-Volume (OBV) line has made a new high for the move up to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line in early April for an outright buy signal. The indicator is still very bullish.
In this weekly bar chart of MASI, below, we can see that prices are up significantly from the base pattern in the $90-$80 area back in 2017. MASI is trading well above the rising 40-week moving average line but not extended.
The weekly OBV line is at a new high for the long move up and confirms the price gains. The weekly MACD oscillator has been above the zero line since early 2018 and it is still going strong.
In this Point and Figure chart of MASI, below, we can see a potential $286 price target.
Bottom line strategy: Traders might get the opportunity to go long MASI around $230 or so but they need to risk a close below $210. The $285 area is our price target.