What is Happening to the Share Price of Pro Medicus Ltd?

Pro Medicus PME

What does Pro Medicus Ltd do?

Pro Medicus Ltd [ASX:PME] is a leading imaging IT provider. The company provides a full range of radiology IT software and services to hospitals, imaging centres and health care groups worldwide.

In the half yearly report, announced late February, CEO Sam Hubert, said he was delighted with the company’s progress. He said the revenues were improving substantially and he was expecting this to continue with very strong and growing opportunities in the US.

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 weekly chart of PME:

Pro Medicus

Source: STEX

The stock was up further in today’s trading, making an all-time high of $2.52 for the day. For all of 2015, the stock has not had more than one week down. This tells you what you need to know.

What now for PME shares?

In late February the company announced to the market record half year results, with revenue up 42% higher than the previous corresponding period. We could expect the full year results likewise to be positive; in fact the market forecasted that months ago.

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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