RHCA very long consolidation of a larger wave 4 still in progress. The final leg y of (wxy) will end in a zigzag pattern that indicates the completion of wave 4.
RHCAU trade ideas
RHC is chopping around and looking for resistance RHC has been chopping around between 61-70 since april last year. a recent surge of 3 bullish candles now sees price coming up against resistance area at $68. a clear break above should see an easy run up to $70. If it struggles to break 68 area i'd be looking for a return to low 60's. for now i'm keeping an eye on this and watching closely. the big play is to short on the rebound of $70.
For educational purposes only
Do your own research
RHC - The trend is your friendHey guys welcome back, as promised here is the first of three charts I have this weeks. Give me a follow if your liking the charts so far. Thumbs up and comments are also appreciated.
I have broken the chart down into a general reversal situation. Sell off. Accumulation. Breakout. Retest. Continuation of larger trend.
With that being said I believe RHC is pushing to make a new all time high. With a previous break out after the accumulation and a strong reaction during the retest I think we have the perfect recipe for at the very least a challenge of the all time high. I believe at the current situation that this has a high probability. Over all trend is bullish and the outlook on the company is looking promising. More to follow over the next few months.
Breakdown:
Accumulation phases consist of side ways movement generally after a large retracement from either direction. This phase is a visual accumulation of the share on a large scale. These phase can last for months and years and are generally slow however present excellent opportunities for the average investor (ride the trend).
Gap and GO weekly breakoutfrom bearish to bullish trend due to gap and go, bullish macd cross and rsi trend. strong vol
$RHC.AX #RamsayHealthcare looks bullish abv 56 its 61$RHC.AX #RamsayHealthcare looks bullish abv 56 its 61
ASX: RHC Ramsay Healthcare - Right shoulder forming or not?Ramsay Healthcare is currently in a falling channel . Is it time to buy? After today's capitulation, we are already at the bottom of the channel and also the completion of the Head. Are we seeing a right shoulder forming in the weeks to come?
If we do not fall off the channel, we should bounce and target $68. Otherwise we break support and drops to next support level at $48.
Disclaimer:
Ramsay Health Care - Make or break for bull trend heavyweight-Monster 38 Month H&S (could be quite difficult to find an entry)
-Crossed and responded to 200MA on a weekly scale
-Could be a favourable short or hedge given the general market condition
Will plan for 120 basis points of risk across 2-3 tranches
