Cochlear To Join $100 Club?

This story features COCHLEAR LIMITED. For more info SHARE ANALYSIS: COH

By Michael Gable 

In the wake of the recent events overseas, markets showed themselves to be resilient and there was only a slight movement down in the Australian dollar. A market at 5000 is less scary than a market at 6000 so expect buying to come back in. The question investors are asking is whether we can get a sustained movement up from current levels or not. We still target a move up towards 5450 although it remains to be seen whether we can squeeze that in before the end of the year. If the market can make a swift move beyond 5100 at least, then attention needs to turn back to potential buying opportunities.

Today we look at Cochlear ((COH)).
 

COH appears fully valued, but is starting to look more positive from a charting perspective. Several weeks ago it appeared to be breaking down but it has gone on to make a higher low instead. You will notice that the price action for the last year has seen it form a symmetrical triangle. This means that we are likely seeing a continuation pattern where a possible break to the upside could see COH resume the uptrend and attempt one final move towards $100 to complete the uptrend that commenced early last year.

 

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Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Michael assists investors to achieve their goals by providing advice ranging from short term trading to longer term portfolio management, deals in all ASX listed securities and specialises in covered call writing to help long term investors protect their share portfolios and generate additional income.

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities Pty Ltd is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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