Agilent Technologies (A) is a leading company in life sciences, diagnostics and applied chemical markets. That's great, but we are looking for stocks that are leaders on the charts. Let's check to see if this is one.
In the daily bar chart of A, below, we can see that the shares have trended higher the past 12 months with only two shallow corrections until the deeper pullback in September/October. Prices broke below the 50-day moving average line and approached the rising 200-day line earlier this month.
Trading volume did not seem to increase on the decline, suggesting that traders largely held their positions. The On-Balance-Volume (OBV) line was steady, too, in recent weeks. The OBV line is close to a new high for the move up and could be foreshadowing price gains.
The Moving Average Convergence Divergence (MACD) oscillator has crossed to the upside for a cover shorts buy signal. An outright buy signal may come soon.