Cheers mate. I think there is very strong technical resistance...

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.