ConvatecStrong company been a favorite of mine in the medical for a while.
Been trading in this channel recently reaching the bottom.
This channel also aligns with my fib retracement as highlighted in the yellow horizontal
Will be buying some shares
2CV trade ideas
Convatec - Chronically undervalued?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 conditions.
Market Cap: £3.79Billion
The recovery over the medium term continues as the shares trade in a sequence of higher highs and higher lows. The recent corrective move back to the trend line has attracted some buying interest. The formation and break of a small wedge is also an encouraging sign that we can expect a continuation. There is an unfilled gap at 223p to target on the upside.
Stop: 181.6p
Target 1: 211p
Target 2: 222p
Target 3: 240p
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Godd reaction to yesterday's resultsOn 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.
CTEC - Convatec - BuyA very simple trade here. MACD & RSI diverging at support. Good R/R ratio with stops @ 180.5 and 1st target @ 219
Convatec ~ Long Swing TradeShowing signs of a new uptrend.
Hold till resistance level/ an overbought RSI.
Place stop loss at 200.
Risk/Reward ratio: 4
