InvoCare is under current Algo Engine sell conditions, following a recent lower high formation at $15.00.
Invocare’s balance sheet will be strengthened following the announced raising of up to A$85m, via institutional placement which will include $20m via a share purchase plan. We expect this to be done at around $13.30.
We anticipate the next signal to be a Algo Engine “buy” and we’re likely to see this before the end of April.
We see long-term value in IVC and suggest investors watch for an entry signal between $13.30 & $13.80