Green Cross Healthcare Limited (GXH.NZX)

10 December 2018

Technical Summary: The five year chart of GXH almost looks like a rainbow in shape. With a strong rally in price to the middle of the chart followed by an almost mirror image pullback. The pullback has been so deep that the stock is now trading where it was 5 years ago. From a technical perspective therefore the stock is in a downtrend and as the stock cannot be shorted there is nothing to do. The same can be said from a mean reversion perspective as there are no clear support or resistance levels. If you are buying the stock today you are doing so from a fundamental perspective based on its valuation.

Rainbow like pattern on the 5 year chart as the stock goes up in a hurry and then comes down in a hurry

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