PME - 15% trailASX:PME is in a significant uptrend, but there is not too much to support a 350x P/E valuation at these levels.
PME trade ideas
buying idea PMEPME has consolidate at all time high for 8 weeks now and looking to make a move. with the stop at 247.70 (50 day MA) it's a good risk to reward set up give it a go.
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Daily PME wedge pullback continuation pattern Pme looks to have formed a small wedge pullback to the 21 day moving average potentially to the 50 day, Creating a buy opportunity for a continuation of the long term trend. Looks as though once volume has spiked and fallen off on each pullback another marked in June/July the trend breaks out and continues.
Short on PME
PME is currently in an ascending channel with bearish RSI divergence. Has hit resistance at top of channel, stoploss above last swing high with target at next resistance level or could even come down to fill gap, moving SL to BE when safe to do so. RR 2:1
What Price Action Happens Next?With This Stock. I purchased as RSI was looking to be close to overbought. Likely too aggressive a trade without confirmation. There have been several doji candles since with not much movement.
DOes anyone have any thoughts or experience with what this might mean for upcoming price action up or down. 50/50 up down or more 70%/ 30% up down.
Thanks if you have some technical experience.
Pro Medicus Limited AnalysisSomeone requested for this chart. Here's my 2cents on it :
1. Some simple mathematics - Top is around 38 dollars, low is at 15 dollars. Now, the price is around 27 dollars. If you measure it, you are somewhere in the middle range now. That means, if the price action favours you, you can make potentially 11 dollars profits. Else, you lose 12 dollars loss. Risk- reward is 1:1. Are you comfortable with that ? I do not analyse the fundamentals of the company, so you need to dig in a bit to assess its future business.
2. Chart tells me -
a) we are at an inverse H&S pattern now. The resistance is at 27.46 which it needs to clear now. Once cleared, there is another one at 30.23. Only if this is cleared, then we can see it climbing towards its previous peak of 38 dollars.
b) What causes the more than 60% plunge in 2019 till mid March this year ? Is it a one-off event ?
M&A can be a double edge sword if the new entity does not offer more value than before.
c) Unless I have bought this stock at 8-10 range, I am not quite motivated to long on it for reasons I mentioned above. For example, I invest in Tencent , a business that is relatively easy to understand. No. 1 in gaming worldwide and the trends, research shows the CAGR growth is huge in the future. They invest in growth sectors like digital finance, e-commerce, cloud computing, all pointing to the digital transformation that the world is going through. How about Pro Medicus ? Is the product in demand for a long time and not a one shot wonder ? Think diabetes, cancer, hypertension drugs manufacturer.These are unlikely to go away in the next 20-30 years , in fact the probabilities of people contracting will increase thus requiring more of the drugs which increase the revenue.
On the whole, while the chart appears bullish , you must ask yourself, are there any better trade opportunities available ? Or do you know something specific that gives you the advantage to go long ? And are you trading for short term gain or invest for the long term? All these will have a place in your entries and selection of this stock.
I wish you all the best in your trades. As always, use stop loss, employ appropriate capital, position sizing ,etc.
PME- PROMEDICUSInverse Head and shoulder.
Solid fundamentals.
As always not Financial advise. Do your own research.
PME Long technical analysis PT $40ASX:PME Price target is shown on the chart, extremely bullish during the pandemic.
Good luck mates, don't miss the train!
Here is a buy setup in Pro Medicus $PMEIt's a buy for me if $PME can close above the yellow line and above the 200 ma (red line).
Thus, the resistance will turn to support with three moving averages acting as support too.
There is a trendline at the bottom of the wicks which acting as support too.
Technical indicators are turning bullish.
Worth adding to your alerts and shortlist.
Pro Medicus - Falling Wedge - new uptrend resuming?Looks like plenty of upside for PME now the falling wedge has broken out to the upside. Furthermore a fairly major resistance/support level has also broken through suggesting a bullish trend may resume. I'm thinking this could be a good spot to get in.
PME bull trend with DeMark Sequential levels on displayPME's uptrend over the 9 months of the start of the year is illustrated by the repeated completion of 9 count Demark Sequential sell setups, without a single completion of a 9 count buy set up over that period.
PME has recently completed its first 9 count buy set up, resulting in a run up of over 10% in the space of 3 days, which was well contained by the existing trend resistance line with strong sell pressure giving a long wick on today's candle.
Note that the resistance established by each of the sell set ups during an extended uptrend tended to be broken early in the 9 count.
Note repeated attempts of RSI to break its very low moving average being contained by strong sell pressure.
PME poised for a 30% gainAfter a solid 25% correction. This look ready for a pop to the upside potentially a 30% + gain
PME Pro medicus a cup and handle breakout looming on the 3hr TFLeading medical imaging company setting up here nicely. High watch
$PME - PRO MEDICUS - One to watch for breakout$PME - PRO MEDICUS - One to watch for breakout
Have held this one for a little while now and up a bit under 15% on it. It looks like it might be building towards a new breakout over its previous high. There isnt much volume behind the move at the moment, but one to keep en eye on.
Pro Medicus Limited produces integrated software applications for the healthcare industry. The Company's principal activities are the supply of healthcare imaging products and services to hospitals, diagnostic imaging groups and other health related entities in Australia, North America and Europe. The Company's segments include Australia, Europe and North America. Its products and services include Radiology Information Systems (RIS) and Visage 7.0. RIS offers medical software for practice management (RIS); training, installation and professional services; after sale support and service products; Promedicus.net secure e-mail, and digital radiology integration products. The Company's Visage 7.0 offers medical imaging software; picture archiving and communications system (PACS)/digital imaging software; training, installation and professional services, and service and support products. Its subsidiaries include Promed (USA) Pty Ltd, PME IP Australia Pty Ltd and Visage Imaging Inc.
PME watching for break of bull flagStrong performer PME is set for potential breakout of flag to continue trend.
Chart can also break down to rising support level.
Appears to be in phase 2 of 'hyperwave, although too early to determine'
PME.ASX - UptrendStrong moves to the upside in the past week with supporting volume. Share prices closed at 8.38 in today's session close to 8.45 resistance. A break above 8.45 could see prices move up to 8.97 resistance price point
