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BLUE chart uptrend channel on rising large players volume

Bluebird Bio Swing Long Setup

Bluebird Bio looks like a pretty sweet swing long setup as the stock is testing uptrend channel support as large players volume surges higher.

Bluebird Bio reported its quarterly earnings results on May 7, 2018. The company reported EPS of ($2.31) which missed the consensus estimate of ($2.01). Revenue crushed estimates, coming in at $15.96 million for the quarter versus the $5.85 million estimate. Bluebird Bio’s revenue for the quarter was up 133.7% YoY.

Bluebird Bio shows strong growth in revenue. In the last year, revenue is up an eye-popping 287.81%! Revenue has been growing by 17.16% on average over the past 5 years which is also good. Bluebird is on track to do $44.6 million in revenue for 2018.

The company has a current ratio of 10.80 which suggests it has no problem paying its short term obligations. Bluebird Bio has an Altman-Z score of 17.75 which indicates that they are financially healthy and are at little risk of bankruptcy right now.

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Bluebird Bio Stock

BLUE chart uptrend channel on rising large players volume

There is reduced volatility while prices have been consolidating. BLUE stock has pulled back to uptrend channel support which may present a good opportunity for an entry. There is a support zone below the uptrend wall at $182, a stop order could be placed below this zone. We also had a recent Pocket Pivot signal (blue dots) which is bullish.

I first profiled this stock for Premium members in an article from November 5, 2017 entitled Bluebird Bio Stock Strong Uptrend On Buy Ratings.

Disclosure: I do not hold any position in BLUE stock.

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