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LIFE HEALTHCARE GR.HLDGSLIFE HEALTHCARE GR.HLDGSLIFE HEALTHCARE GR.HLDGS

LIFE HEALTHCARE GR.HLDGS

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L53 trade ideas

Life Healthcare - How I'm Seeing ItPreviously I called a long on LHC at 1977c (13 May idea attached), citing the relative strength vs the broader market. The name traded above 2800c less than a month later, driven by the Biogen/Alzheimer's news. Comparing the current price structure to Biogen in the US, I note Biogen having previously developed a bearish flag formation which was a precursor to the recent move lower. Could LHC follow a similar structure in the short term? Here are two scenarios: 1. From the immediate structure, the 2390c level needs to be breached, as confirmation of the downside move. 2. If it trades higher then a level will be confirmed but preceded by a break of the channel support. I'm monitoring for a short term opportunity. For more high quality insights and real-time trading ideas, get in touch today.
JSE:LHC
by LD_Perspectives
Life Healthcare - Also Strong On A Relative BasisLHC looking quite strong in the face of a broad-based sell-off. Share trading at multi-month highs, having developed a rounding base formation. Also note the share on a relative basis versus the All-Share - breaking the downward trend line extending back to March 2020. Similar to offshore healthcare names (XLV ETF) which trades at a 3-month high vs the S&P 500 (SPY), it may be another place to hide as risk assets sell off.
JSE:LHCLong
by LD_Perspectives
LHCHealthcare stocks, with the exception of Aspen Pharmacare have been laggards within a strong overall market. Life Healthcare (LHC) has caught my attention as a name with both short term and long-term upside. For now, I will stick with the short-term where the following technical characteristics suggest underlying strength: - Recent falling wedge breakout off a strong support zone (1650-1680c), followed by a retracement/re-test of the breakout level. - MACD indicator making higher lows while price has remained flat. (Upper panel) - MACD indicator has developed a bullish crossover. (Upper panel) - Money Flow Index is trending up (lower panel) - Strong candle structure at the 1765 pivot (P) - typical big green candles at the pivot are indicative of buyers eager to push the price through the support zone. - Also note Wednesday and Thursday's massive volume. - We would look for a move through the pivot (P) of 1765 and then 1780c as confirmation as well to add further conviction to the upside potential. - On the upside, targets would be ~1876c and ~1930c. - Stop: 1680c
JSE:LHCLong
by LD_Perspectives