Admedus technicals

I invest and invested in Admedus 100% for its fundamental potential and performance. I am not a technical investor and I have no charting experience, knowledge or understanding. Clearly this is true or I would not have invested 3 years ago as the stock was in a down trend (even though I am glad I did, as there is nothing like skin in the game to really get to know a stock deeply.)

But I digress.

For those of you technically minded and interested in charts and trends etc I wanted to share a discussion I had today with Michael **le CEO of Fairmont Equities. I have enjoyed watching Michael on Your Money Your Call over the years and I respect his opinion.

So I asked him in our conversation today what he thought of the technicals of Admedus (technicals are his thing.)

I didn’t quite understand what he told me but I wanted to share it for others that may know what he was talking about.

So he basically said it looks good and if I was a shareholder I would be happy. Looks like it has created an inverse head and shoulders and has crossed the neckline. He said going off the chart the next price target would be 44 cents where it may meet some initial resistance.

He offered to look at it again once it gets there if I Am interested. I gave him a few of the fundamental reasons for owning and the change in trend but I could tell he was more of a technical guy!

So I thought I’d share this view for all those holders that like this aspect of investing. I am not sure in the history of Admedus if the technicals and the (true $$) fundamentals where ever both going very well at the same time.

I should just mention that Michael was really nice, I respect his views and I appreciated his time. Check out Fairmont Equities if interested and you can sign up for free charting videos that review viewer requested stocks each week.

Disclosure - I have no connections to Fairmont Equities and I am not a customer of theirs.

Probably my first and last charting post.

DYOR and Not advice.