TwinTrader.com announces the publication of Breakout for Genomic Health Inc. (Nasdaq: GHDX), an excerpt highlighting public companies on the move and what’s behind their stock movement.
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Genomic Health Inc. is a life science company engaged in the development and commercialization of genomic-based clinical diagnostic tests for cancer that enable physicians and patients to make individualized treatment decisions in the United States. The company’s Oncotype DX is a clinical laboratory test, which is used for early stage breast cancer patients to predict the likelihood of cancer recurrence and the likelihood of chemotherapy benefit.
The breakout features Genomic as one of Baker Brothers’ top picks, as well as the day’s technicals. The author writes:
“Bad earnings and shaky prospects of a turnaround have cooled investors away from this stock. The fundamentals are very bad, and may get worse. Investors await the company’s next earnings release. However, biotech at Baker Brothers released its report that Genomic is among its top picks in the second quarter. … The shares of Genomic have suffered down to its four-month support level of $19. The RSI is skimming the oversold level, but hasn’t capitulated. Today, the stock is fighting to maintain its support above $19, keeping investors on the edge of their seats. A close below the $19 price level may spell trouble for this stock, with the expectations of further support may be as low as $10. MACD is bearish and accelerating.”
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