HeartWare International Inc : Bearish scenario preferred
Entry price | Target | Stop-loss | Potential |
---|
US$83.53 |
US$0 |
US$87.1 |
+100% |
---|
Indicators argue for a technical correction after the last bullish movement recorded in past sessions.
From a fundamental viewpoint, the company is expected to loss money this year as the previous one, even if the financial situation is expected to be better, this situation could lead to some profit taking.
Graphically, the share is in a period of technical rebound that allowed it to reach the USD 86.05 mid-term resistance. This area could trigger a sell signal for investors in case of profit-taking. Furthermore, the rallying of the USD 78.95 support area will be considered for upcoming sessions.
Due to the technical configuration and a fragile fundamental situation that does not justify the current valuation of the group, investors can open a short position close to the USD 86.05 resistance. The price target is set at USD 78.95 and a stop loss will be placed above USD 86.05.
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