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Buyer Beware! There’s More Than Meets the Eye with This Red-Hot Stock.
Candlestick chart selloff by Don Huan via Shutterstock This is a caution for all investors. It’s always important to complete due diligence before you press that BUY button If it looks too good to be true, it probably is!
Today’s Featured Stock:
Valued at $85 million, VirnetX (VHC) is engaged in developing products for real-time communications such as instant messaging and voice over internet protocol (VoIP), commercializing its patent portfolio and providing contract research, prototyping, systems integration, and technical services.
More News from Barchart
What I’m Watching:
I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. VHC checks those boxes. Since the Trend Seeker signaled a buy on June 26, the stock has gained 105.95%.
VHC Price vs. Daily Moving Averages:
www.barchart.com ## Barchart Technical Indicators for VirnetX:
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
VirnetX shares hit a new 52-week high on July 21, touching $21.53 in morning trading.
Story Continues## Don’t Ignore the Fundamentals:
Analyst and Investor Sentiment on VirnetX:
I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.
Major Wall Street analysts won't cover this stock.
The Bottom Line:
VirnetX currently has momentum and is hitting new highs. However, most analysts won’t cover this stock.
I caution that VHC is volatile and speculative. This stock is not an investment but is a highly risky speculation. Use strict risk management and stop-loss strategies.
Today’s Chart of the Day was written by Jim Van Meerten*. Read previous editions of the daily newsletter* here*.*
Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
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