Tea-Trades

FLGT- ("A dark horse"? )

Long
NASDAQ:FLGT   FULGENT GENETICS INC
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.
Comment: Fulgent Genetics (FLGT)

In the midst of a global pandemic, it comes as no surprise that the healthcare sector experienced significant growth. Medical device maker and genetics company Fulgent Genetics Inc (NASDAQ: FLGT) was no exception, with the company’s stock rising from about $13 to $66 over the last 12 months.
Comment: I am watching this one closely. Don't like the big red candle on big volume. It is also breaking the 10 EMA which is not a good sign. I am setting alarm at 61.00 to evaluate if this is a sell at that point. I will not hold this to the 50 day since my entry was above the 50 day. I have room to let it fall to the 21 day since I took profits earlier.
Comment: Holding

Comments

hey, great stuff! I have been eyein this one for a long hold. Question for you. trailing % stops. I am trying to figure out how to utilize them to protect gains. Can you spare a few minutes to chat?
Reply
Tea-Trades awisecrackin
@awisecrackin, See today's comment above: I am watching this one closely. Don't like the big red candle on big volume. It is also breaking the 10 EMA which is not a good sign since it has been trading above it since the end of Dec. Now it does break the 21 day ema slightly before continuing therefore I am giving it some room. I am setting alarm at 61.00 to evaluate if this is a sell at that point. I will not hold this to the 50 day since my entry was above the 50 day. I have room to let it fall to the 21 day and slightly below (will watch volume if this happens) since I took profits earlier. As far as trailing stops: I like Stan Weinsteins philosophy on how to trail a stop if you are a trader: ie Always place the stop below the last correction of 7% or more once it moves close to or above its last high. It might be good for me to make a video on it but I would be glad to chat about it. Hope this helps. Not trading advice; just my philosophy.
Reply
Tea-Trades Tea-Trades
@Tea-Trades, PS.. this all depends on the health of the overall market as well.
Reply
awisecrackin Tea-Trades
@Tea-Trades, Thanks. The health of the market is another bag to deal with and I understand that. Overall, with the the poor quality vaccines and the genetic testing side in general, the market is large for this company. I have no doubt in it's fundamentals that it will be a runner, just a matter of when and if it can outpace the market when it does eventually drop.

Philosophy is what will help me best to merge knowledge sets and other approaches that provide me insight. If we were to look at another stock to help talk me through a few indicators for what you mentioned above could we do that? I'll PM you.
Reply
Tea-Trades awisecrackin
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