Buy Convatec (CTEC.L) ConvaTec Group PLC is a United Kingdom-based medical product and technology company. The Company focuses on therapies for the management of chronic conditions, including products used for advanced chronic and acute wound care, ostomy care, continence and critical care and infusion devices used in the treatment of diabetes and other...
On weekly chart dark cloud cover is usually bearish, but this week's price action could make the stock bullish. It still has to pull away from 219p resistance though.
A very simple trade here. MACD & RSI diverging at support. Good R/R ratio with stops @ 180.5 and 1st target @ 219
Showing signs of a new uptrend. Hold till resistance level/ an overbought RSI. Place stop loss at 200. Risk/Reward ratio: 4