I originally found this stock through a FINVIZ screener. Both fundamental and technical analysis leads me to the conclusion that this is a great stock to buy
FA: -Their income statement and balance sheet for the past few years has been trending upwards which is a great indicator of success to come. -Their sector is in health tech and currently have a market cap around 42B. -Their current ratio is 2.2 which is really good. this means they have 2x the assets to pay for their current liabilities. -Their Debt radio is 49% which is amazing. Mean if they need loans they will be able to pay for them because their Assets double their liabilities
TA: -RSI is extremely low and in the oversold territory, this presents a massive upward possibility -MACD is very low and also presents a massive upward possibility -SRSI is also extremely low, once it passes the 20 mark would be a great time to enter the trade and can be taken as a sign that the stock will reverse its current downtrend. -Currently in an box right where there was support found last time price was here
There is 0 reason I found on FA for this stock to be trending downwards. This looks like a healthy market correction and should be seen as a fire sale. Since the stock has had a large correction now would be the perfect entry for a long term position. This is an S&P 500 stock not a fad, so its great to build a long term position in and especially at its discount price