Ann: FPH Updates Release Date for Full Year Results, page-11

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milk

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15/04/20

15:36

Post #: 44058327
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Originally posted by Lucky Phil: ↑

Hi Milk,
Easy to follow chart work and analysis - thank you.
FPH wasn't hit the hardest as many were on Friday 13th (March) dropping "just" ~17% from previous highs (on close) from 5th March. Since then FPH rose over 40% within 3 weeks before recent falls.
IMO the recent sell off was uncertainty about extent of Covid-19 and the need for respirators (but how easy is it for a customer to cancel a purchase order?), an overvalued sentiment and future economic uncertainty leading to both profit taking and switching into the defensive gold sector and to other stocks curently remaining oversold yet trending upwards.
IMHO, and based on a trendline only, I believe FPH is oversold at anything below say $27.50.
On the upside Lincoln Indicators currently report shorting activity is now at a very low 0.1% of FPH stock on issue although they and other analysts still view FPH as being worth just ~$21.00 per share: Noting though that FPH and other healthcare stocks such as CSL, COH and RMD also trade at same or higher price to valuation ratios of 1.25 times.
Furthermore, I'm not sure if Lincoln's valuation of FPH currently reflects their own commentary:
"FPH has upgraded FY20 revenue and NPAT guidance to $1.24b and between $275m and $280m. Demand for the company's respiratory humidifiers and consumables have remained strong as infection rates of COVID-19 continue to spread globally. FPH has lifted manufacturing output to meet this increased demand, and this should help support sales in 2H20. To add perspective, China contributed ~10% and US ~43% of total revenue in FY19."
Regards, LP

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In this afternoon at $26.15 Comfortable to be entered at this level with the indicators based on my previous post chart.

Lucky Phil, agree, FPH didn't really fall at all however did have a strong run up which broke up from its 9 month trendline support in the later parts of March (see below) which has been a steady climb.

I believe now it has returned back to its stead climb support trendline.

FPH Price at posting: $26.06 Sentiment: Buy Disclosure: Held
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