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Healthway Medical: Technically interesting.

Monday, April 18, 2011

I have blogged enough on the fundamentals of Healthway Medical for regular readers to know that I would not increase exposure anytime soon. The management has some way to go to prove themselves, that they could execute their strategies successfully.


Technically, however, it is looking somewhat interesting as the 20dMA is rising and could form a golden cross with the 50dMA. It suggests that the share price could have found a floor for now. Stochastics is now in the oversold territory and +DI has the advantage. Squeezing Bollinger bands suggest reducing volatility of late and we could see the counter's share price moving sharply up or down in the near future.

Successfully overcoming the nearest trendline resistance could see price testing a high of 14.5c/share.

Related post:
Healthway Medical: 1 for 8 rights issue.

4 comments:

financialray said...

Hi Ak

I think Peter Lim has basically done a fundamental analysis of this stock and voted with his feet.

AK71 said...

Hi financialray,

I still wonder why did Peter Lim bother to get his feet wet in the first place. Impetuous? ;-)

financialray said...

HI AK

Let me hazard a guess.
Before he is a major shareholder, he gets to see the some of the numbers.
Once he became a substantial shareholder, he had access to all the numbers he wanted.
Only one numerical genius in this entire world can read the accounts of a big football club and come up with cash in quick time. Nobody should doubt this accountant's foresight.

AK71 said...

Hi financialray,

All of us make mistakes sometimes and I am not sure if "nobody should doubt this accountant's foresight". After all, every quarter since early 2010, I would blog about Healthway's worsening numbers. I didn't have to become a substantial shareholder to do this. For the records, I am not an accountant. ;)

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