Might be a slow price action to get to the profit target.
JSE:LHC A Head and Should on a down trend continuation.
Healthcare stocks, with the exception of Aspen Pharmacare have been laggards within a strong overall market. Life Healthcare (LHC) has caught my attention as a name with both short term and long-term upside. For now, I will stick with the short-term where the following technical characteristics suggest underlying strength: - Recent falling wedge breakout off a...
After a high volume selling climax (SC), we have seen an automatic rally (AR) back to the previous trading range in the downtrend. Now we can expect the price to range at these levels until a new cause has been built. The spring occurred short of the oversold line indicating some strength. We will watch how the trading range develops to see if this is possibly an...
Life Healthcare | Following a 5-year downward trend, the share is looking to break above the resistance trend line and reverse it’s bearish course. It should also be noted that the price has held it’s 61.8% Fibonacci Retracement support level since September 2017, a key level for where long term buyers have sought interest. As per the monthly RSI, we are currently...
If the trend is your friend, you should be looking to get short Life Healthcare (LHC). This is a very large trend and is therefore more significant. The problem is the RSI. Momentum has been extremely strong so I would short on weakness and NOT into strength. A break of this trend will be powerful and long lasting. A break and consecutive closes above 27.70 can be...
- Price is up against the 200ma - A positive push through could see the inverted head & shoulders play out - Confirmation is needed so currently neutral - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:LHC Posted trading statement this morning. Watch for break above neckline. From trading statement: The Group delivered good results for the 2019 financial year in challenging operating conditions with strong revenue growth of between 7.9% and 10.3% (2018: R23 488 million).
$JSELHC Hourly close below R22.15 confirms H&S
Life Healthcare has been trading in a downtrend. After a redistribution and backup to the trading range, the expectation was for a continuation (See posts below). It has taken some time but with some volume, it seems LHC is only now ready to be marked down further.
We may derive the following from the Weekly LHC chart: 1. Price has respected our support zone (purple box). 2. Price should in all probability continue to rise further. 3. Monitor price action and look out for further long opportunities. 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice.
Life Healthcare has been trading in a well defined downward stride. After a selling climax in April 2017 LHC formed a redistribution trading range (TR). This range tested the supply line of the stride and has now broken the TR and we have seen a backup (BU) to test the TR. After not being able to break back into the TR we can expect the markdown to continue.
$JSELHC Update: So far so good - first target R21.15
We may derive the following from the Weekly LHC chart: 1. Price is still trading in a downtrend. 2. A bottom may have formed. 3. Price i.m.o should continue to rise slowly to reach the downtrend highs. 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice.
$JSELHC Breaking lower - back to bottom of channel