Cochlear has gone from market darling to market punching bag. Most analysts don't like it and valuations are lower than where it is trading. That could open it up to a contrarian trade. Despite what the other analysts are saying, we can see that the market seems to be tiring of its negativity with COH. The pullback from 2013 has lost momentum and we can see here that the price was starting to round off under $60. We mentioned two weeks ago here in Stock Watch that the $60 level appears to be the key in our opinion
http://www.finnewsnetwork.com.au/archives/finance_news_network76769.
We alerted viewers to the fact that if COH can break that level and hold, then it has the potential to rally higher. The next levels of resistance are at $64 and then close to $70. Now that it has broken through today, we expect it to go for a run. It could cool off a little in the next day or two but as long as it stays in the $60's, then that would be the buy zone.
