We’ve looked at Dexcom (DXCM) before and it is on the run again. It is due to release earnings in a couple weeks and it looks like traders are optimistic about what that will show.
It’s recent drop from a high of 579 gives it room to keep climbing as it refills to that target.
We can see on the chart above that it has broken out above its 10 day after finding support near the 10 day moving average.
It is still a huge leader in the continuous glucose monitoring space. These medical devices allow people managing diabetes to see their blood glucose levels without sticking their finger to draw blood. Dexcom has integrated it’s device with a number of other manufacturers of diabetes related products. In fact, people can check their blood glucose on their cellphone and also share their levels with other people they approve. This has been a game changer for parents of kids with diabetes who need to keep an eye on blood sugar levels.
We will keep an eye on this chart and see how it moves in the next few weeks.
Keep learning and trade wisely,
Market Wealth Daily
PS-To see other articles we have written about DXCM, click here.