ResMed, Inc. : Trading opportunity
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$43.18 | $0 | $40.6 | -100% |
According to Surperformance ratings, the group has strong fundamentals,as shown by the business predictability. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of USD 2.19 per share for the current year.
ResMed is in an uptrend in the medium and long term, but the last bearish movement returns close to a major support level (USD 42.8), level corresponding to the 20-week moving average. This threshold, if preserved, will enable to enjoy the bullish movement towards the USD 48.4 resistance.
It seems opportune to take a long position around the USD 42.8 support area with in line of sight the USD 48.4 resistance. A stop loss must be placed under the USD 42.8 support.