The Closing Print live trading and financial blog during market hours.


With the recent strength in market indices, these MarketSmith “Near Pivot” breakout candidates are setting up for follow through into earnings season. Banks start reporting the week of January 18. Considering the strength in the 10 year yield momentum in financials will likely continue.

MarketSmith “Stocks Near Pivot”


Bio Rad Labs (BIO)

Bio-Rad Laboratories, Inc. develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the United States, Canada, and Latin America.

Bio-Rad is a maker of life science research products and analytical instrumentation. These tools are used to separate and analyze complex chemical and biological materials. The company recently announced its outlook through 2023, including a prediction of FY 2023 sales between $2.75 billion and $2.85 billion.2 Bio-Rad had net sales of $2.3 billion in FY 2019.3

Bio Rad is an interesting candidate, in a niche healthcare group providing testing for complex biological materials like Covid-19. Considering its low 12-month trailing price-to-earnings (P/E) ratio and that profits can be returned to shareholders in the form of dividends and buybacks, a low P/E ratio of (5.2) shows we’re paying less for each dollar of profit generated by the company.
Note Bio Rad competitors in the left side panel as well (rectangle). A market where competitors are moving together makes for a higher probability trade.

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