Healthway Medical closed 0.5c higher at 19c today on much reduced volume. MFI has flattened in the overbought region and OBV inched up ever so slightly. I am a believer in chart patterns. See how the cup formation troughed at 9.5c and topped out at 14.5c? The target price in case of a breakout of the top of the formation is just a projection of the trough to the top and beyond which gives us 19.5c. This target price was reached in just one week from the midpoint of the cup pattern at 12c. Fast and furious indeed. Will it find fuel to extend the run or will it soon turn lower? It is quite obvious that there is more risk of a downside than a probability of an upside at this stage. I sold more shares in Healthway Medical today and I am left holding only 25% of my original investment. Why not sell all? It pays to remember that the market can be perverse. Always hedge.
Breaking 19.5c resistance will give an eventual target of 24c. Any correction in price will find initial support at 16.5c with a stronger support at 15c.
FAKE ASSI AK71 IN HWZ.
Featured blog.
1M50 CPF millionaire in 2021!
Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...
"E-book" by AK
Second "e-book".
Another free "e-book".
4th free "e-book".
Financially free and Facebook free!
Subscribe To ASSI
Posts
Comments
Monthly Popular Blog Posts
-
Time flies and it is time for another quarterly update. Before I start on the update proper, I just want to say a few words about Wilmar Int...
-
Stock prices of DBS, OCBC and UOB have been rocketing higher! How do I feel? I have mixed feelings, really. I would like to add to my invest...
-
I shared a photo of one my favorite ships in World of Warships in a video yesterday. Bismark is a ship I enjoy a lot and I have had many ho...
-
I have been somewhat busy in real life lately. So, I have not been producing much content. However, I did manage to make a few videos recent...
-
I used to blog about my meals in the early days of blogging. Haven't been doing it for many years. Anyway, I love fish fingers. Specific...
All time ASSI most popular!
-
A reader pointed me to a thread in HWZ Forum which discussed about my CPF savings being more than $800K. He wanted to clarify certain que... -
The plan was to blog about this together with my quarterly passive income report (4Q 2018) but I decided to take some time off from Neverwin...
-
Reader says... AK sifu.. Wah next year MA up to 57200... Excited siah.. Can top up again to get tax relief. Can I ask u if the i...
-
It has been a pretty long break since my last blog. I have also been spending a lot less time engaging readers both in my blog and on Face...
-
I thought of not blogging about my 2Q 2020 passive income till a couple of weeks later because Mod 19 of Neverwinter, Avernus, just went liv...
Bloggy Award
2 comments:
I got some shares in Healthway which I'm going to hold on for a while. I was looking at another stock from the same sector, Healthcare Pacific. What do you think of it's prospect?
When I was considering which healthcare services provider to invest in last year, I considered Pacific Healthcare too as the share price was similar to Healthway's at that time.
I dropped Pacific Healthcare because although its revenue was comparable to Healthway's, its operating profit was only a third of Healthway's. That suggested to me that Pacific Healthcare had issues with containing operating costs. A few months later, Pacific Healthcare actually had an operating loss while Healthway was healthily profiting ahead and by then, there was a 30% difference in the share prices of the two companies.
Having said this, Pacific Healthcare recently attracted the attention of a deep pocketed Middle Eastern investor. This might or might not rejuvenate the company. If you are interested in Pacific Healthcare, I would suggest keeping an eye on any announcements by the company on their future business plans and current performance. You might also want to go through their past financial statements to see if you like their numbers.
Post a Comment