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Healthway Medical overcame resistance at 17.5c today to close at 18.5c but not before touching a high of 19c. Volume expanded significantly today. 19.5c could be tested next as the bearish divergence between price and volume was corrected three sessions ago. MACD is rising in positive territory. MFI and OBV are rising in tandem with the rise in price.
Although I believe that Healthway Medical's fundamentals do not command the high share price we are seeing now, the market does not care about fundamentals. Price is about market sentiments.
Related post:
Healthway Medical: A weak first quarter.
Healthway Medical: An updated valuation.
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