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Is Agilent Technologies Due for a Rally?


The tech stock has broken its downtrend, and its moving averages are beginning to slope upward.

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Agilent Technologies Inc (NYSE:A) has long been one of my favorite tech stocks. Its fundamentals are very good, but it's definitely a slow grower. The company had a bit of a slowdown in free cash flow generation, but it seems to be turning the corner again. Current assets are enough to pay off all liabilities if it wants to.

From a technical analysis perspective, I see it like this:

1. The downtrend was broken and retested, so we are moving into a bullish phase.

2. The 200-day moving average provided strong resistance against the downtrend.

3. We have a double bottom in place.

4. The moving averages have come together nicely but are both sloping upward again.

5. We have a third higher high, which confirms a trend since the bottom.

I am considering adding a position soon to this name.
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