[BULLISH]: Sonic Healthcare has formed a new Morning Star pattern.
This is a three-candlestick pattern signalling a major bottom reversal. It is composed of a black candlestick followed by a short candlestick which characteristically gaps down to form a Star. Then we have a third white candlestick whose closing is well into the first session’s black body. This is a meaningful bottom pattern.
Calculation: Morning Star Candlestick Pattern:
1) The market is characterized by a prevailing downtrend;
2) We see a black candlestick on the first day;
3) Then we see a short candlestick on the second day that gaps in the direction of the downtrend;
4) A white candlestick is observed on the third day;
PROFILE: Sonic Healthcare (SHL.AX)
Stock Exchange: ASX
Company: Sonic Healthcare
Ticker Codes: | SHL.AX | ASX:SHL |
Sonic Healthcare Limited, a healthcare company, provides medical diagnostic services, and administrative services and facilities to medical practitioners. It operates through Laboratory, Imaging, and Other segments. The company offers laboratory medicine/pathology, diagnostic imaging, and radiology services to physicians, hospitals, community health services, and their collective patients. It also operates primary care medical centers and independent practitioner network. In addition, the company provides occupational health services, remote health services, community and home nursing services, primary care research programs, health assessment technologies, hospital avoidance programs, and clinical trials and chronic disease management programs, as well as GP services. It has operations in Australia, New Zealand, the United Kingdom, the United States, Germany, Switzerland, Belgium, and Ireland. The company was formerly known as Sonic Technology Australia Limited and changed its name to Sonic Healthcare Limited in November 1995. The company is headquartered in Macquarie Park, Australia.