Medical Developments International Limited

March 4, 2020 - 4 weeks ago
Share on twitter
Share on facebook
Share on linkedin
Share on email

Technical outlook – Technically, the bearish make-up all began last month in February with the uptrend emanating from December 2019 formed a “Rising Wedge”.

The rising wedge is a popular reversal pattern that can often give traders a clue to the direction and distance of the next price move.

A rising wedge is generally considered bearish and is usually found in up and downtrends.

Rising wedges put in a series of higher tops and higher bottoms, or as prices begin wide at the bottom and contracts as prices move higher and the trading range narrows.

A rising wedge also marks the exhaustion of the buying trend.

As (MVP) current pattern slowly explores the downside region of $8.00, now views a potential cap from $9.00 and therefore, potentially, supports a challenge towards the bullish foundations seen from $7.50. Reassess from there.

Company Overview – Medical Developments International Limited (MVP) is an Australia-based healthcare company. MVP offers a range of open and closed-circuit anaesthetic machines to the veterinary market, which is known as Komesaroff anaesthetic machines.

With an industry-leading range of products in the areas of pain management, asthma and resuscitation, plus veterinary equipment.

Company has established a network of manufacturers and distributors to ensure both quality assurance and supply chain solutions are maintained for servicing and delivering to both the local and international sectors.

Share on twitter
Share on facebook
Share on linkedin
Share on email

Leave a Reply

Close Menu