In an "Executive Decision" segment of Mad Money Tuesday evening, Jim Cramer sat down with Anders Gustafsson, CEO of Zebra Technologies Corp. (ZBRA) . The company recently purchased Xplore Technologies. Gustafsson explained that the company can use this acquisition to fuel its growth and further the integration of its solutions. Zebra provides solutions for data capturing and automatic identification and is used in everything from sports and retail to health care. Let's put aside the fundamentals and take a look at the charts and indicators Wednesday morning.
In the daily bar chart of ZBRA, below, we can see a solid-looking uptrend from last November. Prices have stayed above the rising 200-day moving average line with successful dips toward that indicator in February, August and October. Prices made new highs for the move up this month and are above the rising 50-day moving average.
The daily On-Balance-Volume (OBV) line shows a rising trend the past 12 months and it made a new high this month to confirm the new price high. The Moving Average Convergence Divergence (MACD) oscillator has spent most of the past 12 months above the zero line and is currently in a bullish mode.
In the weekly bar char of ZBRA, below, we can see a bullish alignment of the indicators. Prices are above the rising 40-week moving average line.
The weekly OBV line has been bullish since July 2016 and the weekly MACD oscillator is turning up to a fresh outright go long signal.
In this Point and Figure chart of ZBRA, below, we can see an upside price target of $245 being projected. A trade up at $186 will be a triple top breakout.
Bottom-line strategy: Already long ZBRA? Raise sell stops to a close below $155. Looking to go long ZBRA? Either buy a dip to around $170 and risk below $155 or go long above $186 and risk below $160. My price targets are $200 and then $245.