Score 9.5 (out of 10): STERIS PLC sets up for +5.1% rally in 1 month

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What’s Going On Here?

STERIS has reported $1.2bn in revenue, in-line with analysts’ forecasts while EPS beat expectations by +6.5%. Some analysts have now started to upgrade their revenue predictions for 2023 which would lift EPS by +124%.

Why Now?

STERIS PLC has triggered a new technical analysis ‘rally reversal’ signal. During similar occasions, STERIS PLC shares had a median return of +5.1%, over the following 1 month – based on 10 historical occasions with 10 of those showing positive returns (100%). This buy signal for STERIS PLC received a high score of 9.5 (out of 10). This insight was generated on 2022-February-14 with last price of 226.55.

What’s This Company About?

STERIS PLC is in the Medical Products business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. ‘Wall Street’ analysts think the stock price will be worth +17.6% (average). Ticker symbol: STE US.

What’s My Risk / Reward and Time Horizon?

We found 1 month 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 238.19 (+5.1%) has been reached. Based on STERIS PLC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 218.85 (last price at 226.55), which is equivalent to a -3.4% 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’ shown under (2), etc. 

Previous episodes:

3.5% (December-2021), 4.7% (September-2021), 8.8% (June-2021), 12.2% (March-2021), 3% (December-2020), 8.1% (June-2020), 4.9% (March-2020), 10.3% (January-2020), 2.5% (October-2019), 5.4% (August-2019).

Historical Chart:

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Summary:

NameSTERIS PLC
ViewUp
Star (1 to 10)9.5
Target+5.1%
Time1 month
Hist Rate100%

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