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.
Cheers mate. I think there is very strong technical resistance...
Add SIG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.30 |
Change
0.040(3.19%) |
Mkt cap ! $2.113B | |||
| Open | High | Low | Value | Volume |
| $1.29 | $1.32 | $1.28 | $73.35M | 56.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 69674 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 30625 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$1.29 |
Change
0.040 ( 2.04 %) |
||||
| Open | High | Low | Volume | ||
| $1.29 | $1.31 | $1.29 | 2459294 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| SIG (ASX) Chart |