Filed under: Earnings reports, General Electric (GE), Technical Analysis, Stocks to Buy
Analogic Corporation (NASDAQ: ALOG) designs
and manufactures medical and security imaging processing systems, primarily for original equipment manufacturers. Its devices are used in such products as magnetic resonance imagers, ultrasound transducers, checked luggage scanners and explosives detection systems. Major customers include L-3 Communications (NYSE: LLL), Philips (NYSE: PHG) and General Electric (NYSE: GE).
The company pleased investors last week, when it reported fiscal Q1 EPS of 53 cents and revenues of $94.2 million. Analysts
had been expecting 40 cents and $87.4 million. ALOG shares popped through moving average resistance on the news and then passed into a bullish “flag” consolidation pattern. Prices frequently exit flags moving in the same direction they were traveling on entry. In this case, that would be to the upside.
Continue reading Analogic Corp. (ALOG) shares defining bullish “flag”
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