Haemonetics Stock Surges Near All Time Highs (HAE)
Big day for medical systems developer Haemonetics (HAE) which ran over 9% today as it beat earnings expectations and raised guidance for the year.
The stock finished today’s session at $64.65, just several points off its all time high of $67.49 set in September of last year.
From the AP:
Haemonetics said its profit increased to $16.2 million, or 62 cents per share, from $14.4 million, or 54 cents per share, in the same quarter a year earlier. Revenue grew 16 percent to $155.4 million from $134.6 million.
Excluding one-time items, the company said it earned 63 cents per share. Analysts expected a profit of 61 cents per share on $144.9 million in revenue, according to a Thomson Reuters survey.
We have both daily and weekly charts for HAE stock. On the da1ily you can see a nice clearing past the 200 day moving average followed by a short bull flag which broke to the upside in today’s session. The weekly seems to be representing a long term base on base pattern.
Looking into the near term future of HAE stock keep an eye out for another short term bull flag to emerge for the stock or a buying opportunity with a light volume retracement back towards $60.
Source:
Plasma sales lift Haemonetics 3Q profit 13 percent
Associated Press
Yahoo Finance, February 2, 2009, 2:49 pm EST
