Technicals | Aug 24 2021
This story features PRO MEDICUS LIMITED. For more info SHARE ANALYSIS: PME
By Michael Gable
In the last few days, we have once again seen the US markets come back to the 50-day moving average and bounce off it, which means that the uptrend remains in place for now.
In today's research, we have looked at a company to keep an eye on over the next few days or so for a better entry point – Pro Medicus ((PME)).
PME has been a good trading stock over time. As we can see on this chart, it rallies very strongly before consolidating those moves by trading sideways for a while. The most recent break last Wednesday was a buying opportunity as PME should rally again here. In looking for another buying opportunity from here, we would wait for a possible shorter-term consolidation over the next few days or so. If it can take a small dip and move sideways on lower volume then that would be another buying opportunity. Any consolidation would need to hold above $60.
Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services.
Michael is RG146 Accredited and holds the following formal qualifications:
• Bachelor of Engineering, Hons. (University of Sydney)
• Bachelor of Commerce (University of Sydney)
• Diploma of Mortgage Lending (Finsia)
• Diploma of Financial Services [Financial Planning] (Finsia)
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2
Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
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