Sirtex (SRX) breaking higher

by Michael Gable

The chart may not seem spectacular at first glance so it is easy to miss the fact that SRX has doubled in price over the course of this year. It looks uneventful because the trend is sustainable. The share price will rally strongly for a short period of time and then undergo a fairly flat correction for a longer period of time as it absorbs the recent rally. This is very bullish. Once again SRX has spent the last several weeks drifting sideways before finally breaking clear of this last week. At the moment it is not going anywhere in a hurry, but provided that it can stay above this downtrend line, we would expect to see at least a few dollars upside from here.


Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?