Simple Technical Stock Analysis for ASX Blue Chip Stock RHCSimple Technical Stock Analysis for ASX Blue Chip Stock RHC (Ramsay Health Care).
Market Monkey ASX Top 50 #41 for June 2024.
This week, the Team unpacks some simple technical and trend indicators for ASX Blue Chip Stock RHC (Ramsay Health Care).
Indicators include:
- Trend Momentum
- Price Direction
- Market Pressure (Buy / Sell demand)
- Volume (Market Strength)
- Simple Moving Averages
- Support and Resistance
Extract indicators taken from the Blue Report for June, 2024.
www.marketmonkey.com....au/report-dashboard
RHC trade ideas
RHC is chopping around and looking for resistance RHC has been chopping around between 61-70 since april last year. a recent surge of 3 bullish candles now sees price coming up against resistance area at $68. a clear break above should see an easy run up to $70. If it struggles to break 68 area i'd be looking for a return to low 60's. for now i'm keeping an eye on this and watching closely. the big play is to short on the rebound of $70.
For educational purposes only
Do your own research
RHC - The trend is your friendHey guys welcome back, as promised here is the first of three charts I have this weeks. Give me a follow if your liking the charts so far. Thumbs up and comments are also appreciated.
I have broken the chart down into a general reversal situation. Sell off. Accumulation. Breakout. Retest. Continuation of larger trend.
With that being said I believe RHC is pushing to make a new all time high. With a previous break out after the accumulation and a strong reaction during the retest I think we have the perfect recipe for at the very least a challenge of the all time high. I believe at the current situation that this has a high probability. Over all trend is bullish and the outlook on the company is looking promising. More to follow over the next few months.
Breakdown:
Accumulation phases consist of side ways movement generally after a large retracement from either direction. This phase is a visual accumulation of the share on a large scale. These phase can last for months and years and are generally slow however present excellent opportunities for the average investor (ride the trend).
ASX: RHC Ramsay Healthcare - Right shoulder forming or not?Ramsay Healthcare is currently in a falling channel . Is it time to buy? After today's capitulation, we are already at the bottom of the channel and also the completion of the Head. Are we seeing a right shoulder forming in the weeks to come?
If we do not fall off the channel, we should bounce and target $68. Otherwise we break support and drops to next support level at $48.
Disclaimer:
Ramsay Health Care - Make or break for bull trend heavyweight-Monster 38 Month H&S (could be quite difficult to find an entry)
-Crossed and responded to 200MA on a weekly scale
-Could be a favourable short or hedge given the general market condition
Will plan for 120 basis points of risk across 2-3 tranches