Score 8.2 (out of 10): RESMED INC indicates to return +12% rally in 3 months

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What’s Going On Here?

ResMed’s quarterly earnings beat analyst expectations with a reported revenue of $914.7 million for the fourth quarter of 2022, a 4% increase compared to the same period in 2021.

Why Now?

RESMED INC appears to have reached a potential bottom. During similar occasions, RESMED INC shares had a median return of +12%, over the following 3 months – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for RESMED INC received a high score of 8.2 (out of 10). This insight was generated on 2022-August-22 with last price of 229.36.

What’s This Company About?

RESMED INC is in the Respiratory Products business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: RMD US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 256.82 (+12%) has been reached. Based on RESMED INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 223.46 (last price at 229.36), which is equivalent to a -2.6% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

12.1% (April-2022), 2.2% (December-2021), -1.3% (September-2021), 38.2% (April- 2021), -6.8% (January-2021), 23.1% (July-2020), 7.6% (February-2020), 20.1% (August-2019), 26.2% (March-2019), 11.9% (December-2018).

Historical Chart:

Summary:

NameRESMED INC
ViewUp
Star (1 to 10)8.2
Target12%
Time3 months
Hit Rate80%

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