Quest Diagnostics (DGX) is doing more than blood tests. They are doing advanced gene-based and molecular testing, healthcare IT and data analytics, lab services and lab operations, and wellness and population health.
Let's take a look at the charts and indicators.
In this daily bar chart of DGX, below, I can see that prices have held the $130 area in March and May. Prices have turned higher and recently crossed above the 50-day and 200-day moving average lines. The trading volume has been more active since early February.
The daily On-Balance-Volume (OBV) line shows gains from September and just made a new high for its move up. The Moving Average Convergence Divergence (MACD) oscillator has crossed above the zero line for an outright buy signal.
In this weekly Japanese candlestick chart of DGX, below, I can see a strengthening picture. Prices made a low in 2022 and higher lows this year. Prices are edging above the 40-week moving average line.
The weekly OBV line shows strength from September. The MACD oscillator has crossed to the upside for a cover shorts buy signal and is not far from an outright buy.
In this daily Point and Figure chart of DGX, below, I can see an upside price target in the $169 area.
In this weekly Point and Figure chart of DGX, below, I can see a downside price target in the $123 area but a trade at $148 will be bullish.
Bottom line strategy: I don't know anyone who looks forward to medical tests, but it looks like a lot of people are going anyway. The charts of DGX are positive looking, so traders could go long at current levels. Risk to $134 for now. The $169 area is my price target.
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