Healthway Medical's results came in rather weak, as expected:
See results here.
We are still in the tunnel but do we see a tiny glow at the end of the tunnel?
Perhaps, points C and D are the most important indicators that things could be stabilising. However, it is still too early to say for sure.
Having said this, the proposed diversification could throw a spanner in the works. One could only hope that Healthway Medical is not biting off more than it could chew.
On 25 Oct, I suggested that Healthway Medical's share price could have found a floor at 15c. I also mentioned that any rebound would be a good chance for stale bulls to reduce exposure. 17c was never hit as the rebound in price went as high as 16.5c before declining again.
The last session saw Healthway Medical closing at 15.5c. With the MACD, MFI and RSI all in their respective downtrends, a retest of the support at 15c is rather likely. Consolation? Volume has been declining in the last few sessions. So, we could have a soft landing.
Healthway Medical: Second quarter results.
Healthway Medical: Business diversification.
Healthway Medical: A floor at 15c?