Shares of RHC remain under pressure and have posted a 6-month low of $62.50 in early trade.
This is on top of yesterday’s 5.75% drop after a weaker profit report.
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RHC, Australia’s largest private hospital operator, reported a 3.7% fall in H1 profit to $246 million; most of the weakness is from hospital operations in the UK.
From a technical perspective, the daily price chart shows solid support in the $61.50 to $61.20 area dating back to June 2016.
We’ll update our signals on RHC and look for a reasonable level to enter the stock.
Ramsay Health
