This market is about as wild as it gets. Trying to time it can give you fits. But that doesn’t mean there aren’t some stocks out there that aren’t going against the broader market madness. Here is one we have looked at before that is really showing some strong signs.
Dexcom is is medical device company that just greenlighted a new version of its continuous glucose monitoring system. This latest version is smaller and easier to use. They have been the leader in this space and have other companies that are using their technology to revolutionize diabetes management.
Take a look at the chart:
A couple things stand out. First, DXCM has been moving up while the rest of the market has dropped. It is also finding support at its 200 day moving average. In addition we can see that in a nice run it had last year it was comfortable with its MACD hovering above 0 for a while as the climb played out.
This scenario sets up a move that Andy Chambers has taken advantage of in the past. His Market Propulsion system uses longer term options to give these moves more time to play out. Right now the March call options with a 130 strike are at about 5.50. If this move continues that premium could really shoot up.
To find out how Andy’s approach works, click here.
Keep learning and trade wisely,
Market Wealth Daily