Thursday, August 23, 2012

New IPO IHH Healthcare Chart

Asia Largest Hospital operator IHH Healthcare recently get a buy call from DBS vickers(see below link for reference), as for the chart the price seems to be forming a round bottom chart pattern, a kind of reversal pattern which for long term trade similar to cup and handle pattern. Though the time frame might be too short to call it a round bottom pattern, the price also seems to be supported by $1.225 where the ipo opening price is. One might look into this stock if you missed out the first wave, $1.255 is the breakout price. Stoploss can be place below the support level.

Round bottom: