Gustafsson explained that technology has enabled more things to be tracked and Zebra's technology helps businesses track employees, patients, assets, inventory and more. As more devices become connected to the network, they can all be utilized more effectively.
One of Zebra's more specialized businesses is tracking NFL players during football games. In retail, Zebra has become essential technology for omnichannel retailers, Gustafsson said, as these companies need to precisely track their inventory so orders can be delivered as quickly as possible. Zebra has even made acquisitions in the analytics space to help provide retailers with both hardware and software solutions.
Let's check out the charts this morning.
In this daily bar chart of ZBRA, below, we can that prices had trended higher from late December to April. Prices have continued to make higher lows but we have not seen ZBRA make a higher high since April. Prices are now above the rising 50-day moving average line and the rising 200-day moving average line. The 200-day line has survived several tests of its uptrend including one last month.
The daily On-Balance-Volume (OBV) line shows a rising pattern until June/July and then some recent softness suggesting that accumulation (buying) has slowed.
The Moving Average Convergence Divergence (MACD) oscillator is barely above the zero line suggesting little in the way of trend strength.
In this weekly bar chart of ZBRA, below, we can see three years of its out performance over the last five years. The rising 40-week moving average line has been a great indicator on this security.
The weekly OBV line show a bullish trend until April of this year and the MACD oscillator is still in a take profits sell mode.
In this Point and Figure chart of ZBRA, below, we can see a longer-term upside price target of $304 being projected. A decline to $189.74 will probably weaken this chart.
Bottom line strategy: The longer-term bar chart and the Point and Figure chart of ZBRA are bullish but the daily bar chart suggests some caution. Traders should only go long ZBRA above $220 and existing longs should get defensive on a close below $180.