Here's what Jim Cramer had to say about one stock that a caller offered up during the Mad Money "Lightning Round" Tuesday evening, Harvard Bioscience (HBIO) : "They had a good quarter. That's a decent speculative stock," he said.
The company is a global developer, manufacturer and marketer of a broad range of specialized products, primarily apparatus and scientific instruments.
Let's check out the charts and indicators of HBIO for the first time.
In this daily bar chart of HBIO, below, we can see that prices have more than doubled over the past 12 months. Prices are trading above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line shows a rise from late July but a bearish divergence in May as prices made a higher high but the OBV line did not.
The Moving Average Convergence Divergence (MACD) oscillator has been weakening from the middle of March but it is still above the zero line.
In this weekly Japanese candlestick chart of HBIO, below, we can see a large saucer bottom formation. Prices are trading above the rising 40-week moving average line.
The weekly OBV line is not quite in gear with the rally as it has been in a decline from the middle of 2018. The OBV line made a low in September of last year but it has not improved all that much in the months since.
The MACD oscillator has been bullish since June of last year.
In this daily Point and Figure chart of HBIO, below, we can see that prices are close to a price target of only $7.69.
In this long-term weekly close only Point and Figure chart of HBIO, below, we can see a price target of $8.25. A breakout over $10.50 will be significant should it happen.
Bottom line strategy: Patient traders could go long HBIO on a retest of $6.50 risking to $5.75.