Saturday, November 22, 2014

ResMed Inc. (NYSE: RMD)

ResMed Inc. develops, manufactures, distributes, and markets medical equipment for the diagnosis, treatment, and management of respiratory disorders, with a focus on sleep-disordered breathing. Its products portfolio includes airflow generators, diagnostic products, mask systems, motors, and headgear, as well as other accessories, such as cold passover humidifiers, carry bags, and breathing circuits; and humidifiers comprising H5i and H4i, which connect with the continuous and variable positive airway pressure, and AutoSet flow generators to humidify and heat the air delivered to the patient to prevent the drying of nasal passages.
Take a look at the 1-year chart of ResMed (NYSE: RMD) below with added notations:
1-year chart of ResMed (NYSE: RMD)
After moving significantly higher from March until June, RMD has since moved into a large sideways range. During that time the stock has also created a strong resistance at 53.50 (purple). RMD bottomed at $46 for a second time back in October and now appears to be making another run towards 53.50.

The Tale of the Tape: RMD has a 52-week resistance at $53.50. The possible long position for the stock would be on a breakout above $53.50.
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