SIG 24.9% $2.43 sigma healthcare limited

Head and shoulder breakdown, page-41

  1. 593 Posts.
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    Cheers mate.

    I think there is very strong technical resistance at 53c and 56c. A significant daily close on volume through 56c is what is needed - this would clear the shorts (if they aren't gone yet) and hit some strong upside targets. I agree with other posters that if get a significant daily close through 48.5c we can look for a low 40's downside target.

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    Also, from a fundamental perspective - I think this stock has got a good narrative medium term.

    Significant contract lost due to management considering returns unjustifiable - enabling significant deployment of capital in a more diversified income base at better ROIC.

    The price is around key levels, representing the tussle between Bulls and Bears - aka indirection in the market due to lack of certainty re future growth.

    The company has been flagging an acquisitions pipeline:

    https://www.sbs.com.au/news/sigma-healthcare-seeks-more-acquisitions

    And as this information feeds through to market over next year or two - the market will begin to price this growth.

    This is my investment thesis.

    Let's have a chat if we get decent breaks 56c or 48.5c.
 
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Last
$2.43
Change
0.485(24.9%)
Mkt cap ! $2.300B
Open High Low Value Volume
$2.52 $2.70 $2.32 $138.1M 55.83M

Buyers (Bids)

No. Vol. Price($)
5 123400 $2.42
 

Sellers (Offers)

Price($) Vol. No.
$2.44 1365 1
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Last trade - 16.10pm 07/11/2024 (20 minute delay) ?
SIG (ASX) Chart
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