3 Charts Worth a Look (NGD, DDD, ATHN)
The stocks are New Gold (NGD), 3D Systems (DDD), and athenahealth (ATHN).
New Gold (NGD)
New Gold is sporting a massive inverse head and shoulders pattern - price is trading above the neckline and could breakout to the upside if Gold continues to rally. We like a stop here at $9.50.
Over the past 12 months New Gold (NGD) shares have traded between $7.13 and its 52-week high of $14.15. New Gold Inc shares are now trading with a P/E Ratio of 25.5 and EPS of 0.41.
3D Systems (DDD)
We've been covering long-side recommendations in DDD since $24. Shares are now trading at $38 in a strong rising channel. However, price is at the top of the channel and based on the way it has traded in the past, shares could fall back to the 20 day MA around $35, or all the way back to the bottom of the channel to the 50 day MA around $32. We think shares will eventually trade above $40 at some point in 2012, so this is a great opportunity to leg into a position once it falls to the bottom or middle of its channel. Interestingly enough, this morning DDD had quite a high volume selloff and shares touched the 50 day MA. Not sure what happened there but shares are only down .70 at the time of this article.
Over the past 12 months 3D Systems (DDD) shares have traded between $12.78 and its 52-week high of $39.52. 3D Systems Corp shares are now trading with a P/E Ratio of 67 and EPS of 0.57.
Athenahealth (ATHN) is in the business of electronic health records (EHRs). Thanks to the HITECH Act of 2009, which unleashed nearly $20 billion to providers who purchase EHRs, Athenahealth has been able to scoop up some of the market-share.
ATHN is a bit on the expensive side as far as fundamentals, but the chart is looking very nice having broken out of a rising wedge in mid-July. Very nice base being built here and resistance has turned into support. Look for a break above $100 (hundred dollar roll) and place your stops just below $90.
Over the past 12 months athenahealth (ATHN) shares have traded between $40.79 and its 52-week high of $97.25. athenahealth Inc shares are now trading with a P/E Ratio of 197 and EPS of 0.47.
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