- American Well (AMWL) demonstrates strong technical momentum, recently hitting a new 2-year high.
- Shares are up nearly 57% over the past year.
- AMWL maintains a 100% “Buy” technical opinion from Barchart.
- Despite an 18.85% projected revenue decline this year, earnings are expected to rise 16.01% this year and 37.31% next year.
Today’s Featured Stock
Valued at $208 million, American Well (AMWL) delivers hybrid healthcare in the United States and abroad. Its Converge platform helps providers offer in-person, online, and automated care, and helps patients manage chronic conditions, among other things.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction, Weighted Alpha above 50+ and a 60-Month Beta over 1.5. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. AMWL checks those boxes. The Trend Seeker issued a new “Buy” signal on April 16. Since then, the stock has gained 103.39%.
Barchart’s Technical Indicators for American Well
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.
American Well scored a 2-year high of $13.45 on July 20.
- American Well has a Weighted Alpha of 50.13.
- AMWL has a 100% “Buy” opinion from Barchart.
- The stock has gained 56.98% over the past 52 weeks.
- American Well has its Trend Seeker “Buy” signal intact.
- The stock recently traded at $12.38 with a 50-day moving average of $9.05.
- AMWL has made 12 new highs and gained 49.95% over the past month.
- 60-month beta of 1.69.
- Relative Strength Index (RSI) is at 70.61.
- There’s a technical support level around $12.25.
Don’t Forget the Fundamentals
- $208 million market capitalization.
- Revenue is projected to decrease 18.85% this year but increase again by 3.12% next year.
- Earnings are estimated to increase 16.01% this year and an additional 37.31% next year.
Analyst and Investor Sentiment on American Well
- The Wall Street analysts followed by Barchart give the stock 1 “Strong Buy” and 7 “Hold” opinions with price targets between $6.50 and $9.00.
- Value Line rates the stock “Average.”
- CFRA’s MarketScope rates the stock a “Buy.”
- Morningstar thinks the stock is 10% undervalued with a fair value of $13.23.
- 8,830 investors are following the stock on Seeking Alpha, which rates it a “Hold.”
- Short interest is a low 1.06% of the float with 2.23 days to cover the float.
The Bottom Line on American Well
Although the company hasn’t had increases in revenue, it has enjoyed increases in earnings and cash flow from operations and is predicted to continue that trend.
Additional disclosure: The Barchart Chart 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. For more information please view the Barchart Disclosure Policy here.