CHRT To Continue Playing The Range?
Cohort has made a recovery from the pandemic loses but has established a trading range between 550 and 660 going back to June 2020.
We are coming off the top of the range and price sitting at around 600.
If the share is to continue its established pattern there is an expectation to see it trading lower to around the 550 level.
So short term bias is short with 550 as target. What would negate this view? Increased volume on the upside propelling the price back up to 600 level.
There is little trading volume in this stock and also little institutional ownership. However, thinking big picture and the growth in HeathTech sector, could CHRT be a takeover target for a bigger group? Only time will tell.
We are coming off the top of the range and price sitting at around 600.
If the share is to continue its established pattern there is an expectation to see it trading lower to around the 550 level.
So short term bias is short with 550 as target. What would negate this view? Increased volume on the upside propelling the price back up to 600 level.
There is little trading volume in this stock and also little institutional ownership. However, thinking big picture and the growth in HeathTech sector, could CHRT be a takeover target for a bigger group? Only time will tell.
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