ALGO UPDATE: Take Profits In Short Sonic Trades

Our ALGO engine triggered a sell signal in SHL on February 5th at $24.85

In our blog post from March 3rd, we set an initial downside target of $23.10.

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Shares of SHL hit $23.00 yesterday and we closed out of our short CFD positions on the SAXO Go platform.

At 21X estimated 2018 earnings, the stock looks more attractive at $23.00, than at $25.00

However, given the heightened volatility in the ASX market in general, we will remain flat in SHL and advise clients when we look to enter another position.

Sonic Health

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