Sirtex Medical Limited (ASX:SRX) is a great business. Their key product provides effective liver cancer treatment which is wonderful for so many people. The company has now recorded 38 consecutive quarters of dose sales growth.
I believe the company is delivering their half yearly report tomorrow (18/2). Based on the chart, the next logical pause for this company’s share price is in the high $15’s.
18 February 2pm
Sold 90% of trading parcel at $15.20 average (+80 cents or +5.5%). Watched it in the $15.40’s and sat on my hands despite it being quite close to my short term target. Will keep 10% remainder added to long term holdings.
Bought back trading parcel that we sold above. Purchase price $15.14 today on new buy signal. I think there could be more upside here.
6 March 11:45am
Sold trading parcel at $15.85 (+71 cents or +4.6%) as hit confluence of resistance and top of my blue target zone. Chart below showing our updated buys and sells (green and red squares).
This article is published by Dean Mico.
Disclosure: The Edge Fund owns shares and has also added a short term trading position in Sirtex Medical Limited.
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