Last week there was a change in character in Mediclinic breaking the Trading Range supported by volume increasing. The larger trend is still declining but the current move could take us back to the yearly pivot point.
This could be seen as either a channel or an inverted head and shoulders. The inverted head and shoulders neckline is 6140. If that is breached targets 6550 and 6839 comes into play. That is roughly 10% upside potential. If this is considered a channel break the target would be higher. My approach here will be the less risky option.
Market reacts good at results published.
Yesteraday broke lower but today back above and as old saying goes from false moves come fast moves.
Big channel has been tested.
Don't get surprised if we get another short squeeze here.
The price for this share is currently moving in a series of impulses and corrections, typical of a healthy market. This pattern has created a series of lower highs and lower lows (downtrend. In order to execute a short position, traders have two options, depending on whther they are quite risk-averse (conservative) or risk-seeking:
(1) Enter on the resistance of...
Mediclinc International Plc (5776c): While the price is often the first thing that catches our attention, this time the RSI stands out as an early indicator of potentially bullish activity. At current levels it is the highest (55) since October 2018 (when the price closed at 8900c) and while we do not advise traders to pre-empt a move, taking one's cue from an...
Over the past 3 weeks, the daily price action on Mediclinic looked positive, and it looked like a break to the upside was coming; but alas, the 50 day moving average capped further gains.
If the trend is indeed your friend, I'm going with the trend, and I'm calling a 'Short' around current levels (R56/R57).
A breach of the 50dma will be my signal to get out; R48...
MEI is starting to show signs of life again:
- Breaking above the 'arch'
- Crossing the (short term) 5/20-day MA on the upside
- RSI breaking out
- Pricing starting to make higher lows
Remains a short term buy below R60.00
I would use a stop-loss of 57.50, and TP of 68.00