Mediclinic cup and handle and strong bullish signs to R124.33Cup and Handle formed on Mediclinic and has broken above the brim.
We also have a consistent uptrend form of a RIsing Wedge.
We see a break above it, there'll be a ton of upside we can take advantage with.
7>21>200
Target R124.33
Mediclinic
Mediclinic rare formation showing upside to R135.18 with warningRising Wedge has formed with upside. This is a rare formation.
Reason why it's a wedge and not a pennant is because the formation is bigger than 1 month.
Above is a Rising Wedge in an uptrend. This is one of the rare formations where the price makes higher lows and higher highs - but within a consolidation after a big move up.
We can either expect the price to break above and head to the next high of the target of R135.18
Or we can expect the price to break down due to bubble fears and the price will drop to the previous low (below the flag pole) at R72.24.
My bias is bullish as the technicals are showing upside such as:
7>21>200 MA - Bullish
RSI has formed a Falling wedge with an up flagpole. If it breaks up, it will head back to X>70 - Bulllish
Target up - R135.18
ABOUT MEDICLINIC
Mediclinic (Est. 1983 in SA Stellenbosch) is an international private healthcare services group with operations in South Africa, Switzerland, and the United Arab Emirates (UAE).
It's listed on the London Stock Exchange, the Johannesburg Stock Exchange, and the Namibian Stock Exchange.
The group has over 77 hospitals and 47 clinics, as well as a number of retail pharmacies and occupational health and wellness services.
The company employs over 34,000 people worldwide.
Mediclinic's largest shareholder is Remgro Limited, a South African investment company.
MEDICLINIC - could we be going for the highs of May 2018The stochastic turned up through the 20 line back on the 9th of Nov and it took a while, but the MACD and EMA's are now showing the sign for upward movement too. If triggered, we could potentially see a move all the way up to the highs last seen in May 2018.
Mediclinic post pandemic growth??From a technical point of view we have found support, as well as, dynamic support on the 100EMA. We also have a channel that has been respected to the upside. Fundamentally hospitals are catching up on selective surgeries post pandemic.
Break of pre-pandemic stock value could see a sustained rally to the upside. This all depends on sentiment, as well as, how well Mediclinic manages its profits.
This is a trade opportunity that should see yourself moving SL to entry as quickly as possible. Inflation woes, as well as, possible global recession, could see this trade fall flat on its face.
Buy the break!?MEI is breaking above yellow line.
Its a nice clean break, however there is a trending decline in volume, since the start of the year.
Perhaps this is a sign not to buy long, but rather observe.
Mediclinic - Looking for healthy gains.Buy Mediclinic (MDC.L)
Mediclinic International plc (Mediclinic) is an international private healthcare services provider. Mediclinic is focused on providing acute-care, specialist-orientated, multi-disciplinary healthcare services.
M arket Cap: £2.7Billion
Mediclinic broke above resistance at 374p back on the 17th October 2019. The momentum did not continue as the shares have consolidated lower in recent days. The move higher today is an impressive once and this appears to have completed a bullish flag/pennant pattern. This is often considered a continuation pattern and therefore further upside is expected from here.
Stop: 351.5p
Target 1: 458p
Target 2: 500p
Target 3: 512p
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Mediclinic - Bearish Engulfing @ ResistanceJSE:MEI is showing a bearish engulfing at an established resistance level. If it confirms by going lower than yesterday's candle I will consider a short.
