What is Happening to the Share Price of AtCor Medical Holdings Ltd?

Atcor Medical
Reddit

What does AtCor Medical Ltd do?

AtCor Medical Ltd [ASX:ACG] has developed a non-invasive, low cost medical device to measure central blood pressures and arterial stiffness. The device shows whether a patient is at risk or not and whether intervention is required.

A sensor placed on the wrist of the patient measures their blood pressure. The information is then collected via software on the customer’s computer which then creates a clinical report.

Doctors can then assess the most effective treatment and monitor the success of treatments, thereby enhancing compliance.

In March this year the company received the highest level procedural code in the US. It’s reserved for procedures that have widespread medical support for use in clinical practice. This forms the basis for widespread clinical adoption, which will take effect January 1, 2016.

This now adds the vast US market, estimated to be valued at US$900 million, to AtCor’s existing customer base.

That’s interesting, but what is the chart telling you?

What is the chart telling you?

I personally find it helpful to bring up a chart. Here’s the daily chart of ACG:

AtCor Medical Graph

Source: STEX

You can see the high in March, news of the highest level of approval, thereby clearing the way for widespread adoption in the US.

The share price tested that price level again in April and is again looking positive for another rise.

What now for ACG shares?

You should be watching this company now. The stock is finding support at around 18 cents and resistance around 27 cents. Divorced of all the stories, that’s nearly all you need to know about AtCor Medical.

The chart tells you what you need to know, so watch it. If a significant break of prior tops or lows should occur then you know what the future holds for AtCor Medical.

Start to read the charts to guide your investment decisions. The chart will tell you in advance what to expect for this company, if you can read it properly. Go here to find out more.

Cheers,
Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

Join The Daily Reckoning on Google+

Reddit

Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz
Letters will be edited for clarity, punctuation, spelling and length. Abusive or off-topic comments will not be posted. We will not post all comments.
If you would prefer to email the editor, you can do so by sending an email to letters@dailyreckoning.com.au