See link below for previous analysis.
Netcare recently broke below 1130 invalidating the outlook I had that a bottom was in at that level.
There's a minor adjustment in the wave count with wave 4 of (C) a flat pattern and wave 5, starting from 1738cps, looks to be taking the shape of an ending diagonal.
As to how much lower wave 5 can go is anyone's guess but I...
Inv Cup and Handle has formed on Netcare since November 2023.
It is a high probability nature that the price is likely to drop as the price is below both 20MA and 200MA.
First target is to R10.36.
NOTE: I do acknowledge that there could be a short term W Formation which could cause some chop and even short term upside.
So this is indeed a medium term analysis.
The Netcare Group, identified by its ticker NTC, is a prominent player in the healthcare sector, operating an extensive network of hospitals and medical response teams throughout South Africa and Lesotho. The group boasts fifty-nine hospitals, including four public/private partnerships, employs 22,000 people in South Africa, and offers 10,600 beds. Netcare 911,...
See link below for previous analysis.
The bulls failed to sustain buying pressure and price dropped back into the consolidation zone.
I am sitting on my hands on this one as it does not look likely to go anywhere anytime soon. Hopefully I am jinxing it.
The Netcare Group (NTC) operates hospitals and medical response teams throughout South Africa and Lesotho. It has fifty-nine hospitals, four of which are public/private partnerships, employs 22000 people in South Africa and has 10600 beds. Netcare 911 operates from seventy-nine sites and has over 1000 paramedics. Healthcare is generally not impacted by the...
JSE:NTC soared from lows of R5.81 in October 2008 only to have the Bulls get a wing snip at R44.38 in March 2015.
The stock has since been on a steep meltdown with short term pullback bull-trends typically lasting less than 12 months. It has now been almost 3 year with the price caught in a falling wedge from a pullback that started in December 2020, which may be...
The Netcare Group (NTC) operates hospitals and medical response teams throughout South Africa and Lesotho. It has fifty-nine hospitals, four of which are public/private partnerships, employs 22000 people in South Africa and has 10600 beds. Netcare 911 operates from seventy-nine sites and has over 1000 paramedics. Healthcare is generally not impacted by the...
Netcare has been in its downtrend since May 2023...
It shortly dropped from R16.00 down to R13.68.
And then, the price has been meandering in a downtrend below the 200MA since...
As long as it stays in the Vuvuzela Formation, it will continue to go down.
We need a strong breakout and for the price to close above the resistance of the pattern, before we put...
The Netcare Group (NTC) operates hospitals and medical response teams throughout South Africa and Lesotho. It has fifty-nine hospitals, four of which are public/private partnerships, employs 22000 people in South Africa and has 10600 beds. Netcare 911 operates from seventy-nine sites and has over 1000 paramedics. Healthcare is generally not impacted by the...
A chart is preparation for today's research reports. For more research insights, including trade ideas, get in touch today. The share is down from my previous short/sell idea (published on this platform, see attached) at 1620-1635c to today's multi-month low of 1262c (-22%).
Thursday 07-Sep-2023, 17h39 Netcare Ltd (NTC, 1300c). The selling has been relentless and...
A chart from today's report (zoomed in slightly vs the one in my report). For more research insights, including trade ideas, get in touch today.
NETCARE (NTC, 1419c) | Daily Chart | Monday, 31 July 2023 (Pre-Market) | NTC is a popular range trading instrument however there is no guarantee that the range will continue to hold. Whilst pattern failures are possible,...
Swing trade. Stochastics oversold. Trade of probabilities. Short stop. First target R14.55 The second target would be the 200MA, I will reconsider my options from there.
Netcare still very much in the range. For the traders out there, one might want to look at buying around 13.65'ish and selling at 16- 16.35 or even lower as the top of the bad is not tested as often.
This chart is an extract from my research report that will be published tomorrow.
For more on how you can access this report (which includes trade ideas), get in touch today.
The last coverage of Netcare was on 14 October 2022, link below.
It is still very early days but it seems the bulls have taken the initiative and price has broken above the upper resistance trendline.
The breakout volume is not convincing but as per the original analysis, above 1130 i remain bullish.
This is not a stock i trade and the 1130 invalidation level is...
An extract from tomorrow's report.
NETCARE LTD (NTC, 1597c) | WEEKLY CHART SUGGESTS LONG TERM BREAKOUT BUT SHORT TERM ‘APPROACHING OVERBOUGHT’ OPENS POTENTIAL COUNTERTREND SELL TRADE
The 7-day RSI is a staple in my search for short term trading opportunities. Prints above the 80/85 level suggest the share is strong but approaching an overbought range. A...
Broadening Formation has formed on Netcare which I like to call a Vuvuzela formation.
Range bounded means the indicators are Null and Void.
We need to wait for a break above or below the broadening formation - before a trend is chosen and bias.
R15.67 to the first up target before it turns down
