OPHT

The Chart of the Day belongs to Ophthoteck (OPHT). I found the biopharmaceutical stock by using Barchart to sort the Russell 3000 Indexstocks first for the highest number of new highs in the last month, then again for technical buy signals of 80% or more.  I used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 10/23 the stock gained 64.78%.

Ophthotech Corporation is a biopharmaceutical company. It is focused on developing and commercializing novel therapies for the treatment of diseases of the eye. The Company is developing Fovista and ARC1905, which are under clinical trials, for the treatment of wet AMD. Ophthotech Corporation is headquartered in New York.


The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

Fundamental factors:
The regular technical trading strategies have not work well on this stock.  Watch the news closely, there will be a lot more to come.  Analyst have not factored all the latest news into their projections and recommendations so look for changes to come.  I'd place a trailing stop loss 10% below the most recent high and ride the momentum till it stops then get out with your winnings.