RMD - Time to Load UP...The major support for the stock is at...

RMD - Time to Load UP...

The major support for the stock is at 2.60-2.61 and this share has not gone to this level in the last few years. This will maintain $2.61 or more. Based on the other stocks, they normally go down big time the first day and gain 40-60% loss in the next couple of days to stablise. Then the gains are slow over few weeks time dependent on the share market. So I believe this will be going up to the $2.80-$2.85 mark in the next couple of days.

The revenue was better than before, reduced profit has been blamed on the forex rate fluctuations. This shows the company actually did better than what it did last year but lost money due to big exchange rate variance.

Extract from US website:

ResMed Q1 profit slips 11% October 25, 2011 11:16 AM



ResMed Inc (ASX:RMD, NYSE:RMD) has blamed currency exchange movements for an 11 per cent fall in its quarterly profit, offsetting stronger revenues.

In the first quarter of the 2012 financial year the manufacturer and distributor of medical equipment reported a net profit of $54.3 million.

In the same period the company generated a 12 per cent increase in net revenues, coming in at $301.4 million

CEO Peter Farrell says revenue in the Americas rose 9 per cent and outside the Americas revenue was up 15 per cent in the quarter compared with the same time one year earlier.

In the 2011 financial year ResMed reported a net profit of $211 million.