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.
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. |
---|---|---|
$2.44 | 1365 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 218946 | 0.530 |
12 | 254849 | 0.525 |
22 | 667773 | 0.520 |
12 | 214898 | 0.515 |
31 | 592381 | 0.510 |
Price($) | Vol. | No. |
---|---|---|
0.535 | 238324 | 12 |
0.540 | 239570 | 11 |
0.545 | 263300 | 10 |
0.550 | 155978 | 9 |
0.555 | 81292 | 5 |
Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
SIG (ASX) Chart |