What is Happening to the Share Price of Paragon Care Ltd?

Paragon Care

What does Paragon Care Ltd do?

Paragon Care Ltd [ASX:PGC] is a leading supplier of health care equipment for the health and aged care markets. You can find more on this company in a posting I made in late February, which you can find here. With the ageing of Australia’s population, this is a strong sector.

The half year results announced late February were positive, revenue up 65% over the corresponding period.

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

What is the chart telling you now?

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

Paragon Care

Source: STEX

The stock was up in today’s trading, making a new high of 64 cents. Since mid May, the stock has not had more than one day down. Exceedingly bullish.
Even though we have had no announcement of full year results as of yet, can you see why they should also be positive in nature?

What now for PGC shares?

It’s making new highs, we could expect the full year results likewise to be positive. The underlying business is driven by increasing demand in the acute and aged care sector. And this sector can only grow.

You can start to read the charts to give you some indication of future announcements. Go here to find out more.
Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

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