23-Jan-2024 : Keeping it Simple with Price Action & Technical Analysis
Not sure why.. but end-2023 / start-2024 seems to be the time when Healthcare stocks are back in demand.
Needless to say, look for "quality" and the right "entry price", and chances are slim one will be disappointed.
Putting here my objective analysis and making a case for myself for EBO.
Here is the 2D chart of EBO with my pointers;
* The stock had been in a good uptrend till the start of 2023. It broke the support around 38 in Jun'23 and hit a low around 31 first time in Aug'23
* The resistance zone around 36 has been tested a few times and has failed so far.
* The support at 31 was tested again successfully in Nov'23, and since then the stock has started to show a gradual gain in strength.
* What we now see since Nov'23, is triangle formation, with a rising support trendline that is being respected, and same for the declining resistance.
* The tussle is coming to a climax soon as we can see, and a breakout of the resistance line looks more probable if the RSI also remains above 50.
EBO - ASX Charts - TA Only
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 (20min delay)
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Last
$31.84 |
Change
0.330(1.05%) |
Mkt cap ! $6.152B | |||
| Open | High | Low | Value | Volume |
| $31.51 | $31.84 | $31.12 | $559.7K | 17.84K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 703 | $31.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $32.00 | 1028 | 2 |
View Market Depth
| Last trade - 16.10pm 13/05/2024 (20 minute delay) ? |
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Last
$31.34 |
Change
0.330 ( 0.62 %) |
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| Open | High | Low | Volume | ||
| $31.52 | $31.61 | $31.09 | 5939 | ||
| Last updated 15.59pm 13/05/2024 ? | |||||
| EBO (ASX) Chart |