Life Health showing downside to R16.23 but with a warning!
Inverse Reverse C and H has formed on Life Health.
The price did close below the brim level which also happened to be on the 200MA.
This is a big test for the company.
Once the price breaks below 200MA, there is a high chance of it closing the gap and dropping further.
21>7
Price -200 - Test
RSI<50 - lower highs
Target R16.23
It is a medium probability trade to take on.
ABOUT THE COMPANY
Establishment:
Life Healthcare Group Holdings Ltd, often simply known as Life Healthcare, is a South Africa-based company that was founded in 1983.
Healthcare Provider:
Life Healthcare is a leading private hospital operator in South Africa. It offers acute hospital care, acute mental healthcare, renal dialysis, and acute rehabilitation, among other services.
International Presence:
Life Healthcare has an international footprint and operates in various countries including India through Max Healthcare, and the United Kingdom through Alliance Medical.
Expansion into Diagnostic Imaging:
Life Healthcare expanded its healthcare offering in 2016 with the acquisition of Alliance Medical, which is a leading independent provider of medical imaging services within Europe.
The price did close below the brim level which also happened to be on the 200MA.
This is a big test for the company.
Once the price breaks below 200MA, there is a high chance of it closing the gap and dropping further.
21>7
Price -200 - Test
RSI<50 - lower highs
Target R16.23
It is a medium probability trade to take on.
ABOUT THE COMPANY
Establishment:
Life Healthcare Group Holdings Ltd, often simply known as Life Healthcare, is a South Africa-based company that was founded in 1983.
Healthcare Provider:
Life Healthcare is a leading private hospital operator in South Africa. It offers acute hospital care, acute mental healthcare, renal dialysis, and acute rehabilitation, among other services.
International Presence:
Life Healthcare has an international footprint and operates in various countries including India through Max Healthcare, and the United Kingdom through Alliance Medical.
Expansion into Diagnostic Imaging:
Life Healthcare expanded its healthcare offering in 2016 with the acquisition of Alliance Medical, which is a leading independent provider of medical imaging services within Europe.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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