During Thursday's Lightning Round segment of Mad Money, one caller asked Jim Cramer about Jazz Pharmaceuticals (JAZZ) . "This is a speculative company that makes money. I like it. You're in good hands," responded Cramer.
What do the charts say?
When we last looked at JAZZ way back on Aug. 21, 2020, we recommended that "Traders could go long JAZZ around $125 risking a close below $115 for now. Our price objectives are $135 and then $173."
Let's check out the latest charts of JAZZ.
In the updated daily bar chart of JAZZ, below, we can see that our trade recommendation in August worked out nicely with our $173 price target getting reached in January. What now? Prices are testing key resistance around $180 and look strong. JAZZ is trading above the rising 50-day moving average line as well as above the rising 200-day line.
The On-Balance-Volume (OBV) line was steady from November to April but now looks like it is restarting its uptrend as traders are being more aggressive buyers. The Moving Average Convergence Divergence (MACD) oscillator has just turned upward to a new outright go long signal.