On August 16th, shares of Sonic Health care posted an intra-day high of $23.76.
The next day the company announced that NPAT fell 5% to $427 million, which was the worst component of a reasonably good earnings report.
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Our ALGO engine triggered a buy signal on SHL on Tuesday at $21.46.
We consider SHL a defensive stock, which has been oversold, and has now found good buying support in the $21.40 area.
Investors with a medium-term outlook can look to buy SHL with an initial target of $22.35 and a $21.20 stop.
Sonic Healthcare
