Pro Medicus – Algo Buy Signal

Pro Medicus is under Algo Engine buy conditions and we add this one to our watchlist. With the stock trading on almost 100x PE, it’s expensive even after the share price correction from $38 to $22.

Short covering is likely to occur soon and it’s worth watching the short-term indicators for a reversal higher.

About: Pro Medicus are a leading provider of radiology information systems (RIS), Picture Archiving and Communication Systems (PACS) and advanced visualization solutions across the globe.

Buy range $20.00 – $22.00

 

Coles – Value is Approaching

Coles Group is under Algo Engine buy conditions following the August buy signal at $13.00.

Since then Coles has rallied to $16, supported by investor enthusiasm for the aggressive cost-cutting program.  As the stock price settles back we highlight the $14.50 level, as an area where value will again re-emerge.

Buy Coles within the $14.00 to $15.00 price range.