The white dotted line represents the Stocks average up trend, you can see the stock has squeezed down into an equal triangle (nor bullish or bearish) and looks bullish with that cup and handle right into the bottom. Looking for a safe gain to major resistance at $34.18 Daily RSI shows above 50 after a reset.
ResMed Inc. is a leader in digital health and cloud-connected medical devices. ResMed is one of the largest respiratory care device companies globally, primarily developing and supplying flow generators, masks and accessories for the treatment of sleep apnea. Increasing diagnosis of sleep apnea combined with ageing populations and increasing prevalence of obesity...
ResMed Inc. (RMD) - Bullish Price Action Analysis
Date: 28 Dec 2023
Overview: ResMed Inc. (RMD) is currently exhibiting signs of bullish price action. This analysis provides a potential trading outlook based on the stock's recent market behavior and technical analysis.
Current Market Observations:
Price Trend: RMD has shown a consistent upward trend in recent...
The PEAD projected a Bullish outlook for $RMD after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 50%.
We like low beta stocks, and ResMed is one of them.
Solid balance sheet and high profit margin.
Not cheap based on P/E, but justified by high RoE and high margins.
Resmed has been on the nose of late and is very choppy in price action making it hard to navigate some analysis to buy. However, the conditions have now been met. Do you buy such a choppy price action?
ENTRY: 261.39
SL: 232.75
TP1: 307.39
TP2: 316.43
- Weekly chart - Long term trading
- ADX>20
- Maintaining at pivot point "P" and 38% fib.
- Strength meter is red hence some weakness.
- Entry based on breakout from VZ this week.
Description: RMD is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $205 - $211.2
2. Take profit: $235.09
3. Stop Loss: $199.49
4. Risk To Reward: 1 / 5
5. Accuracy Rating: 95%
