Tuesday night's fast-paced 'Lightning Round' segment of Mad Money had one caller asking about Adaptive Biotechnologies (ADPT) : "I like Danaher (DHR) more and I like Thermo Fisher Scientific (TMO) more," said Jim Cramer.
ADPT does not have much trading history to work with (chart below) and only turned slightly constructive in recent days.
And we covered DHR recently, so let's check out TMO.
In this daily bar chart of TMO, below, we can see that prices have moved higher in an uptrend the past year. Prices are above the rising 50-day moving average line and above the rising 200-day moving average line.
Trading volume looks like it has decreased since early October but the daily On-Balance-Volume (OBV) line shows a nice rise for the year. A rising OBV line tells us that buyers of the stock have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator turned positive in late October and looks like it could soon turn upwards to a fresh buy signal.
In this weekly bar chart of TMO, below, we can see a three-year uptrend where prices have more than doubled. TMO is above the rising 40-week moving average line.
The weekly OBV line has been strong since the middle of 2018 and the MACD oscillator is bullish.
In this Point and Figure chart of TMO, below, we can see a potential upside price target of around $367.
Bottom line strategy: The charts of TMO are positive. Trade from the long side risking a close below $320. $367 is our Point and Figure target.
