4DMedical Poised For A Recovery

This story features 4DMEDICAL LIMITED.
For more info SHARE ANALYSIS: 4DX
The company is included in ALL-TECH

Michael Gable of Fairmont Equities notes 4DMedical shares retraced from a new October high and the bounce supports a move higher.

By Michael Gable 

The past several days has seen some huge swings in the market, as the S&P/ASX200 Index continued to drift lower.

For now, it appears to be finding support near the 200-day moving average which we highlighted in last week’s report.

With our market having more valuation support than the US, there is a good chance for now that our market can recover from here.

The brief deleveraging in the US may have further to run, but we see the current weakness as being over a “will they or won’t they” debate as to whether the US Federal Reserve cuts interest rates in December.

Today, we offer a technical view on 4DMedical ((4DX))

After making a new high in October, 4DMedical then eased back on lower volume.

It then tested the previous swing low before breaking higher yesterday (circled).

This bounce is a buying opportunity and we expect 4DMedical to recover from here.

Initial stops can be considered close-by near $1.40

This means that although it is healthy to see some heat come out of US tech, we are not seeing anything yet that suggests a major top. 

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

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

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). 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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