• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing

Quidel Soared in Recent Months but More Upside Remains

Traders who are comfortable with risk could consider buying QDEL closer to $85 if available.
By BRUCE KAMICH
Mar 24, 2020 | 02:30 PM EDT
Stocks quotes in this article: QDEL

Quidel Corp. (QDEL) makes rapid diagnostic testing kits in four categories. On March 17, the company received emergency use authorization from the Food and Drug Administration (FDA) for its Lyra SARS-CoV-2 Assay - a testing kit "for the qualitative detection of nucleic acid from SARS-CoV-2 in nasopharyngeal or oropharyngeal swab specimens from patients suspected of COVID-19 by their health-care provider."

Sounds very official so let's check out the charts of QDEL.  

In this daily bar chart of QDEL, below, we can see that prices based out in the March-October time period before launching a rally. Prices have almost doubled in around five months. QDEL is above the rising 50-day moving average line and the rising 200-day moving average line. A bullish golden cross can be seen back in September.
 
The daily On-Balance-Volume (OBV) line shows a long rise into February/March and then some recent weakness.
 
The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since November and is poised to cross to a possible take profits signal.   
 
 
 
In this weekly bar chart of QDEL, below, we can see that prices have moved higher over the past three years. Prices are above the rising 40-week moving average line.
 
The weekly OBV line has been in an uptrend for the past three years and weekly trading volume shows enough liquidity. The weekly MACD oscillator is in a bullish configuration. 
 
 
 
In this daily Point and Figure chart of QDEL, below, we can see a potential upside price target in the $145 area. 
 
 
 
Bottom line strategy: Traders who are comfortable with risk could consider buying QDEL closer to $85 if available. Risk a close below $80 while setting the $145 area are your potential price target. 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Trading | Healthcare | Pharmaceuticals | Coronavirus

More from Investing

Nasdaq Reclaims Its Uptrend

Guy Ortmann
Jan 20, 2021 11:00 AM EST

Market psychology and valuation continue to show warning signs.

3M and Mastercard Continue to Trade Sideways

Bruce Kamich
Jan 20, 2021 10:55 AM EST

Both stocks may eventually do better when investors sense that the economy is indeed going to do better.

The Market Trend Is Still Our Friend

James "Rev Shark" DePorre
Jan 20, 2021 10:36 AM EST

The folks that are waiting for the market collapse are going to have to keep waiting.

S&P 500 Has Had a Great 4-Year Run, but Getting There Hasn't Always Been Fun

Jonathan Heller
Jan 20, 2021 10:30 AM EST

The stock index from the start to the end of the Trump presidency has soared, but the level of volatility during certain periods was unsettling.

Cannabis Leader Canopy Growth Can Climb Higher

Bruce Kamich
Jan 20, 2021 9:32 AM EST

Here's how to play CGC.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:07 AM EST GARY BERMAN

    Wednesday Morning Fibocall for 1/20/2021

    SPX (Long-Term View) The 1/8/21 high @ 3826.69 i...
  • 11:09 AM EST GARY BERMAN

    Is Copper About to Turn to Rust?

    Below is a very long-term copper chart.  As you...
  • 08:02 AM EST GARY BERMAN

    Tuesday Morning Fibocall for for 1/19/2021

    SPX (Long-Term View) The 1/8/21 high @ 3826.69 i...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login