ESTIA HEALTH LIMITED LONG PLAY
Fundamentals:
Estia Health Limited is engaged in operating and developing owned and leased residential aged care facilities throughout Australia. The Company's homes offer a range of care services, from providing semi-independent living, to specific and comprehensive care for those with memory or cognitive support needs.
Personal Opinion:
With the growing population of senior citizens globally, I see a growing demand for aged care services and facilities long term
Trade plan:
Evaluate price action on Mondays only for mid- long term play
Targets:
Fib Levels 38.2 50 61.8
Why is it Bullish?
1. Ascending triangle forming on the weekly
2. Breakout and retest of descending trend line
3. Price has flipped 23.6 level to support
4. Price is above yearly Pivot printed to Jan 2020
5. Price is above 21 and 50 MA on the weekly
6. Price has closed above weekly Kumo cloud
What will make it Bearish?
1. Price close under 2.62 to negate all above Bullish points
Estia Health Limited is engaged in operating and developing owned and leased residential aged care facilities throughout Australia. The Company's homes offer a range of care services, from providing semi-independent living, to specific and comprehensive care for those with memory or cognitive support needs.
Personal Opinion:
With the growing population of senior citizens globally, I see a growing demand for aged care services and facilities long term
Trade plan:
Evaluate price action on Mondays only for mid- long term play
Targets:
Fib Levels 38.2 50 61.8
Why is it Bullish?
1. Ascending triangle forming on the weekly
2. Breakout and retest of descending trend line
3. Price has flipped 23.6 level to support
4. Price is above yearly Pivot printed to Jan 2020
5. Price is above 21 and 50 MA on the weekly
6. Price has closed above weekly Kumo cloud
What will make it Bearish?
1. Price close under 2.62 to negate all above Bullish points
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