MEDIFAST, INC.

MED
Delayed Quote. Delayed  - 10/26 04:10:00 pm
151.8USD +0.82%

Medifast, Inc. : Close to new upside potential

David Meurisse
Contributor / Partner

Strategy published on : 09/23/2020 | 11:36

long trade on a pullback
Stop-loss triggered

Entry price : 167.4$
Target : 189$
Stop-loss : 156$
Cancellation Level : 177$
Potential : 12.9%

Medifast, Inc. is close to a major resistance level, whereby the breach of this level could be considered as a buy signal. This reflects our preferred scenario in light of the stock's current technical chart pattern.
Investors should buy the stock at current prices near $ 167.4 in order to target the $ 189.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● In a short-term perspective, the company has interesting fundamentals.


Strengths

● Analysts expect a sharply increasing business volume for the group, with high growth rates in the coming years.

● The company is in a robust financial situation considering its net cash and margin position.

● There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.

● The group usually releases upbeat results with huge surprise rates.

● Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.

● Over the past year, analysts have regularly revised upwards their sales forecast for the company.

● For the past twelve months, EPS forecast has been revised upwards.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 95.62 USD


Weaknesses

● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.

● The stock is close to a major daily resistance at USD 182.68, which should be gotten rid of so as to gain new appreciation potential.

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