Fisher & Paykel Healthcare (FPH:NZX)
Technical Summary: ’s initial recommendation on FPH was at $9.79 in 2016 which delivered a massive capital growth of 242.19% so far for our investors. The stock has been moving sideways and consolidating since September last year within the range of $37.00 to $31.00. The stock seems to have priced in most of the possible scenarios in this price range that gives us confidence to revisit the investment case now. We are reiterating our BUY recommendation on this High-quality stock for long term investing. The support level at $31.00 is strong and should hold. Currently we see a good entry support at $32.50. For Traders the trade range is between $31.00 to $34.00. With the new avenues that this Pandemic has opened for FPH there is a lot of potential still left for capital growth with decent dividends. Once the soft resistance at $34.00 is broken the stock will test the key resistance at $35.50. From there we see that the stock can recover back to its highs of $37.00 and break it through in the medium term. For the longer term we see stock can touch $40.00 and go beyond.