During Thursday night's Lightning Round segment of Mad Money one caller asked Jim Cramer about a company called NeoGenomics (NEO) . "I like it and I'd be a buyer," said Cramer of the cancer diagnostics and pharma services firm.
Let's check out the charts.
In the daily bar chart of NEO, below, we can see that the shares made a correction from February into March. Prices pulled back to the rising 200-day moving average line and tested it successfully twice in March. The shares have rallied to the underside of the declining 50-day moving average line. Sometimes this is a place for rallies to fail but I doubt it will be the case with NEO.
The On-Balance-Volume (OBV) line has been strong and has gone up to new highs foreshadowing further price gains, in my opinion. The Moving Average Convergence Divergence (MACD) oscillator has made two cover shorts buy signals since March as it edges closer to the zero line and an outright buy signal.