Strong move higher on earnings – Changes to stop loss and target price

Brad Holland

Brad has over 20 years experience in the Australian and US equities and options markets. Brad specialises in equities and options for capital growth, income generation and capital protection. He also specialises in finding opportunities in small to medium cap stocks. Brad holds RG146 - Securities & Managed Investments and Accredited Derivatives Adviser Level 2 qualifications.



February 2, 2024



High Conviction Report | RMD.AX

ResMed (RMD) recently reported strong earnings for the December quarter of $1.88 per share much better than expected. As a result, the share price has moved nicely to the upside, so it is time to adjust the stop loss and profit target higher.

As the saying goes, we are going to let our profits run on the existing position while protecting more of our profit by increasing the stop loss.

TRADE ACTION

Stop loss; Increase from $24.00 to $27.75

Profit target; Increase from $30.00 to $31.50

This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.