What is Happening to the Share Price of Paragon Care Ltd?

What does Paragon Care Ltd do?

This is a follow up, to a previous post I made on 14 July 2015.

Paragon Care Ltd [ASX:PGC] is a leading supplier of equipment to the health and aged care sectors. With its aggressive acquisitions, it is fast becoming the countries one stop shop for aged and health care equipment.

When I made the previous post in mid-July, only the half year results were known. Those results were very, very, positive. To quote from the post, I then had this to say; ‘…we could expect the full year results likewise to be positive.’

Well yesterday the company finally announced the full year results to the market.

Revenue up 66%

EBITDA up 110%

Net Profit after tax up 94%

Earnings per share up 60%…and on it goes.

Anyway, here’s the updated daily chart of PGC after yesterday’s announcement.

Paragon Care chart

Source: STEX

As you can see the share price has had a big day out on positive news.

What you must do now?

Go back and look at the chart from five weeks ago here. See what the chart looked like at the time. The chart told you good results were coming, a full five weeks in advance. You can see that, right?

If you can’t see that, then you must go here to start your education, not next week, not tomorrow, now. You remain at a severe disadvantage without this knowledge.

What now for PGC shares?

You just have to watch it for now, it could possibly retrace from here. Let’s wait and see. This is a strong sector presently, which can only grow. So one could follow it, look for a confirmed low on the weekly chart.

Yesterday was an emotional day for the company. On top of the spectacular end of year results; the company also announced news of further acquisitions and a fully underwritten $42.1 million capital raising. So it may be fully priced for now.

The charts will tell you in advance what is coming. You just need to know how to read one. Go here to find out how.
Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

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Terence Duffy is an analyst and chartist, specialising in researching economic trends and cycles.  His primary focus is housing and land affordability. But you can also depend on him to offer his unique analysis of stock market charts. As Terence will show you, the charts often forecast, well in advance, the good or bad news to come — which he details in Cycles, Trends and Forecasts.

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