Resmed has rallied from $7.50 in November to $8.70 and appears to be pulling back from the recent high. It’s likely the Algo engine will trigger a buy signal in the coming weeks if the current retracement sees prices remain in the range of $8.00 to $8.40.
We think the fourth quarter earnings in RMD will reassure investors and support buying ahead of the result on a dip in price should create a solid entry level into 2017.
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