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Fulgent Genetics, Inc.Fulgent Genetics, Inc.Fulgent Genetics, Inc.

Fulgent Genetics, Inc.

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FLGT trade ideas

FLGT Big heads upI have been watching FLGT for months now! I am currently holding some position as well as swinging between the levels. It all started with issuing a put option when the stock was at 130 back in early Feb and it's amazing earning report that picked my interest in this stock. Most importantly it is very interesting how FLGT behaves irrelevant to the market and its sector from time to time. This is my third post about FLGT. So far, this stock is bouncing in a giant base between 80-120 dollars, since its significant decline from all time high of 180.00. While many participants lost hope in its recovery, past few days we saw significant interest in FLGT specially it was bought heavily at 80s level. However, there are two big bumps ahead for FLGT: 1. Today FLGT failed to break out of its down trend channel. Tomorrow is very critical as if FLGT bounces down from 90 level it will go back to high 70 levels. If it breaks out of this channel then we are on our way to mid 90 levels on a healthy trend. 2. There is significant open interest at 95 strike prices put options. If by Friday the stock finishes above this level, the healthy trend will continue as issuers of the put may buy the shares to ride the trend up. However, if FLGT closes below 95 more 100K extra shares will be bought by the issuers of the options at the market price. That extra 100K shares can be decisive in on coming week as if the downtrend continues many may exit their position to minimize their risk! On the other hand, if the up trend continues many will hold their position and reduce the supply causing the stock to spike. Therefore 95 resistance level is very critical. Not to mention there is extra attention to FLGT. We definitively going to see some volatility in the stock price in next few days! FLGT has strong fundamentals and relatively weak technicals at this point which are turning around however, it is too early to be optimistic on FLGT technicals! To my humble experience stocks with good fundamentals and bad not so healthy techincals take much longer to become fruitful as they attract investors not traders! Please leave me comments and feedback and feel free to ask questions.
NASDAQ:FLGTLong
by alitrader007
3
$FLGT- Time To Buy?Genetics is the future. The things that scientists have been able to do to switch these new technologies have been pretty stunning. Gene editing can make people and animals stronger, taller, or impervious to disease. And we're only at the start of this revolution. This sector certainly has plenty of room to expand and become more advanced. As one of the leading companies in this sector, Fulgent has a lot of room to grow. Since capping off, shares have fallen over 40%, and they have managed to form a reverse head and shoulders and a cup and handle pattern. These bullish signs tell me it is time to get in on this company. I think $FLGT could easily be worth $300+ in the upcoming years. I love this company and chart. Good Luck!
NASDAQ:FLGTLong
by Investor4321
$FLGT Earnings Beat and BIG pullback Looking for Long EntryThere is no doubt that $FLGT got way ahead of it's self. It had a big pullback to just below the .618 trace area. It also sold off on better than expected earnings and revenue growth. I have an alert set just above the 50 Day SMA. If / when it crosses there I'll be looking for a logical entry and then set my stop below the 50 day... All TBD. Ideas, not investing / trading advice. from Earnings Whisper: Fulgent Genetics (FLGT) reported Quarter December 2020 earnings of $6.12 per share on revenue of $295.0 million. The consensus earnings estimate was $4.36 per share on revenue of $199.4 million. The Earnings Whisper number was $4.40 per share. Revenue grew 3,417.1% on a year-over-year basis. The company said it expects 2021 earnings of approximately $12.50 per share on revenue of approximately $800.0 million. The current consensus earnings estimate is $12.35 per share on revenue of $600.24 million for the year ending December 31, 2021. The company said it expects first quarter revenue of at least $325.0 million. The current consensus revenue estimate is $245.05 million for the quarter ending March 31, 2021.
NASDAQ:FLGTLong
by jaxdog
1
FLGT What a pull back! FLGT caught shareholders buy surprise when it dropped 20% from 135 level down to 105. Today at early hours of the day it went down to 90 level. A pull back in FLGT was anticipated due to following reasons: For one there is a rotational movement out of Health Care and Tech sectors and there is a net movement into Energy and Financial sector. Not mention the market is also showing signs of weakness. However, more than 30% pull back in 24 hrs in a leading stock in its sector is clear sign of oversold. Not to mentioned FLGT pulled back 50% from all time high in only less than 2 weeks. Without any major news or change the company there is no reason for such aggressive pull back. Now lets look more in details into the chart. FLGT has been trending down for past 2 weeks in a channel. Today we had a momentary break out however it was not sustainable. At 65 EMA on daily and 15 EMA on weekly FLGT had an aggressive bounce back today and moved back to the trend. In next few days there are two possibility for this stock: Given that market remains relatively stable, FLGT will continue to the upper band of the channel and either breakthrough and successfully changes the trend, in that case there are two point of profit taking at 125 level and 145 level highlighted in purple and green boxes relatively. However are bound from the upper band will bring it back from 115 level to 90 level and than we will witness change in trend toward 130 level. This is how I am going to execute this trade. I have added at 100 level today and going to to sell 1/2 of my position at the 115.00 if there is a pull back I will be adding. at 100 level again and exit my entire position at 130. However if there is a breakthrough and change in trend I will sell 1/4 at 125 level and 1/4 at 145 level. This is my second post on Trading view if your feedback is appreciated.
NASDAQ:FLGTLong
by alitrader007
21
#FLGT : Moderna-style movement?Credit Suiss said 8/01 it's fair price is 42, not 40. Oppenheimer responded today with rising estimate to 130 from 75. Everybody can see the result on the chart. Company is doing great business in tests. Moderna did similarly with vaccine. If the correction pattern will look more or less the same, 80 could become a solid support now. Shorting that kind of paper would be dangerous (beware "degenerates" from Reddit). But nothing stops us from waiting for more reasonable levels for re-entry into this impulse final wave.
NASDAQ:FLGTShort
by ProTrading24ru
2
FLGT- ("A dark horse"? )HOLD Gained 38.42% since buy; Raised stop to 53.95 from break even; Stock appears to be setting up or rolling over into stage 3 ; Break out price 74.83; placed alert at 74.74 to consider adding to position. Sold 1/2 on Fulgent Genetics, Inc. is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes. As of December 31, 2015, the Company's test menu includes approximately 18,000 single-gene tests and over 200 pre-established, multi-gene, disease-specific panels that collectively test for approximately 7,500 genetic conditions, including various cancers, cardiovascular diseases and neurological disorders. The Company's gene probes are specifically engineered to generate genetic data that is optimized for its software, which enables to rapidly incorporate new genes into its test menu, develop new panels of disease-specific tests and customize tests for its customers. (Info taken from TD Ameritrade) Consensus estimate $5.14 Privious Year .19 Consensus estimate is higher 2,605.26% than previous year actual News came out after entry: news: Fulgent Genetics Extends Partnership with New York City Test and Trace for COVID-19 Testing, Awarded Contract for 2021 School Year 8:00 am ET December 29, 2020 (Globe Newswire) Print Fulgent Genetics (Nasdaq: FLGT), a technology company providing comprehensive testing solutions through its scalable technology platform, today announced that the Company has extended its partnership with the New York City Department of Education (or "NYC DOE") and NYC Health + Hospitals for COVID-19 testing through the remainder of the 2021 school year. The contract was awarded after a competitive process where Fulgent demonstrated its COVID-19 testing capabilities, including its accurate and reliable test offerings, easy to use reporting systems and fast turnaround times. Through the agreement, Fulgent will provide COVID-19 testing for thousands of students and employees at many K-12 schools in New York City on a daily basis. The NYC DOE will leverage Fulgent's FDA EUA-approved RT-PCR test, a type of test believed to provide the highest level of sensitivity and specificity for COVID-19 testing. Results will be available to individuals generally within 24 hours from the time when Fulgent receives and accepts a specimen to one of its labs. This is not investment advice. As always, make your own decisions. I post these for the educational purposes of myself and others.
NASDAQ:FLGTLong
by Tea-Trades
5
FLGT bearish divergenceWhat a day, huh? The markets responded positively to the Inauguration but FLGT fell about 10% (13% but it then recovered some). Seems like it is time for a pause for this stock after a long and healthy rally. TECHNICALS Weekly There is bearish divergence between price and rsi (also on the daily, obviously). We can see that FLGT has been riding the 14/21emas pretty closely, except when it rallied rapidly. However, after those couple of strong rallies it retraced to find comfort on the 14-ema. The current rally resembles very closely the one of the week of jun 27 2020 (white rectangles): then it galloped with fury and created 4 green candles in a row to then retrace to the emas. This rally also created 4 green candles and now we have a red candle. We still have a couple of days to the end of this week but I believe we could see that same type of retracement to the 14/21 emas on the weekly. Perhaps it could continue next week. That would be about 24% more downside (I am using the .5 fib retracement as a guide since it is almost in confluence with the 14-ema at the time of this writing). Daily We can also see a bearish engulfing candlestick pattern, which signals potential reversal (not trend reversal, but more like a retracement here). Price reacted to the 14-ema and 1.272 fib retracement (BTW, this is the new auto fib retracement tool; pretty cool) but I think there is more downside to come. MACD on both On the weekly the MACD looks healthy but on the daily it is starting to curl down. Remember that higher time frames react faster, specially to sudden turns such as this. TAKE AWAY This is obviously speculation (although highly technical) and the price could revert from other support on the daily but I will wait patiently and see if we get to $52 or close to that mark. I would start buying only if the price moves to support on the 14-ema on the weekly (not financial advise). I am not an oracle so this doesn't need to happen but that is what the charts tell me. It is late and that is all I saw. If I see other important stuff I will update this analysis. Safe trades my friends! Share the love: If you get anything out of this TA, please like the chart so it moves up and others can benefit from my work. A simple click on the like button goes a long ways. Follow for more: I have an outstanding winning rate (check my other charts). If you want the best entry/exits just follow me, you won't regret. Thanks a lot! ***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
NASDAQ:FLGT
by Safe_Trades
FLGT - home COVID test kit Emergency Use coming+ $FLGT pending Emergency Use for its Home COVID Test kit + COVID hospitalization and death at all time high + COVID expected to continue to surge through Jan-Feb + people reluctant to leave the house especially to hospital/COVID test loc. in fear of COVID + older people may have hard time leaving the house + more frequent tests needed for high risk jobs + short float 25.75% 14.23M shares - vaccine news = decreasing max gains in the future #tradeidea +1 CALL Jan 15 $42.5 -3 PUT Jan 15 $40 +3 PUT Jan 15 $35 Enter on breakout confirmation of the wedge pattern. Once price moves away, close the put spread. Sell call after short squeeze.
NASDAQ:FLGTLong
by Pr0diJ