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Because many, when they want to buy in a big way, will recommend to the unwashed masses: "Sell! Sell!"
The charts certainly look set for further upside.
Daily:
and Weekly:
COH - Cochlear Limited
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Because many, when they want to buy in a big way, will recommend to the unwashed masses: "Sell! Sell!"
The charts certainly look set for further upside.
Daily:
and Weekly:
skc
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It was more tongue-in-cheek than anything else.
If you ever watch share price behaviour with broker recommendations, you will find that there are indeed volume moving in the direction of the recommendation at least for the initial hours / days. The fact that COH's chart is still positioning for a breakout means that those selling (if any) has proved insufficient and so the underlying buying demand is strong.
We will find out whether this theory makes any sense or not soon.
skc
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Yes I do but I reserve the right to change my opinion by the time I finish typing this post...
Seriously - it was looking bullish with the break of $63 but it has lingered btw $63-$66 for a while. So it may not fly up desite what chart pattern textbooks might suggest.
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So far, today's volume (most of it selling) is between negligible and non-existing. Still, the price can well be pushed downwards towards $64, yet still maintain the ascending triangle pattern.
It's only when volume starts to increase significantly beyond the (blue) average and price breaks the rising support, that I'll get worried.
Are you shorting COH Pixel? If you are I wish you the best of luck, if the price falls to around $55 I will buy more without hesitation, I think earnings and dividends will rise for the foreseeable future.
skc
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Here's one more Sell rating (which is actually rare amongst brokers).
http://finance.ninemsn.com.au/newsc...063/fn-arena-broker-call-headlines-6-jul-2012
http://finance.ninemsn.com.au/newsc...063/fn-arena-broker-call-headlines-6-jul-2012
skc
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This was an updated broker report which retained the same rating as before. I found that change in rating (e.g. from hold to sell) causes more short term volume movement (for obvious reasons).
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Hey robusta;
What makes you think I'll short? I thought I'd made it quite clear I reckon COH is on the up. But before I commit, I want to know I got the direction right. Therefore, if support comes with volume and looks like breaking to the upside, I'll buy. If it breaks below $64, the deal is off. But I won't trade against the trend.
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According to a Goldman Sachs' client note, 51 adverse reports associated with the Nucleus N5 implant were filed with the US FDA in June, down significantly on the ~100 adverse reports filed in recent months. Goldman Sachs estimates that there were 91 adverse events in May 2012.
Goldman Sachs concludes that if the failure rate is kept at or below 100 implants/month, then the recall would only have indirect relevance to COH's performance.
Nonetheless, Goldman Sachs retains a neutral outlook on COH with a $66.00/share 12-month price target on valuation grounds.
Goldman Sachs concludes that if the failure rate is kept at or below 100 implants/month, then the recall would only have indirect relevance to COH's performance.
Nonetheless, Goldman Sachs retains a neutral outlook on COH with a $66.00/share 12-month price target on valuation grounds.
The recall was a great buying opportunity. Cochlear have shown excellent CSR (corporate social responsibility) and companies that do that usually recover their share price long term.
I think COH was way too expensive before the recall at $80/share, but if you managed to pick some up at $45-50, you're going to be laughing for the next 10-20 years.
Absolutely stellar company in all aspects - from the products they produce which are life changing, to shareholder returns. There is no 2 ways about this. Any broker with a sell recommendation is an absolute twat and should be blacklisted. Every recommendation should have been BUY, BUY, BUY, BUY, BUY!!! The $45-50 is going to be one of the great steals of this decade. I bought in my super and I am very comfortable holding COH long term unless technology dramatically changes and something better comes along that allows the regrowth of hairs in the inner ear which have been damaged to cause the hearing loss.
I have a cochlear implant personally, the recall happened just before my surgery last year. My situation being less than ideal for an implant candidate, but the success I've had and the way it's been able to improve and enrich my life is absolutely incredible.
The competitive advantage they have is tremendous. I have no idea what Med-El and AB spend on R&D, but I'm sure Cochlear spend a lot more.
I think COH is Buffet's dream company he talks about in terms of competitive advantage and ROE, but unfortunately it's too small for him and he'd take his 19.9% holding without so much as blinking.
I can confidently say there is a huge level of unawareness/ignorance when it comes to cochlear implants and there is a HUGE unmet demand. CIs are gaining more and more momentum, especially with young or newborn babies who are deaf, as that is the best time to get them. The problem is more lack of funding or money than anything right now. But, I think as the public becomes more aware of the impact they can have on lives, you'll see more people forking out the ~$30k or so out of their own pockets if they can't get the funding or insurance to cover it. I would have never have paid the $30k before I got mine, but after having it for a little over 6 months, I'd fork that money out in a heart beat now knowing what it can do for me.
I think COH was way too expensive before the recall at $80/share, but if you managed to pick some up at $45-50, you're going to be laughing for the next 10-20 years.
Absolutely stellar company in all aspects - from the products they produce which are life changing, to shareholder returns. There is no 2 ways about this. Any broker with a sell recommendation is an absolute twat and should be blacklisted. Every recommendation should have been BUY, BUY, BUY, BUY, BUY!!! The $45-50 is going to be one of the great steals of this decade. I bought in my super and I am very comfortable holding COH long term unless technology dramatically changes and something better comes along that allows the regrowth of hairs in the inner ear which have been damaged to cause the hearing loss.
I have a cochlear implant personally, the recall happened just before my surgery last year. My situation being less than ideal for an implant candidate, but the success I've had and the way it's been able to improve and enrich my life is absolutely incredible.
The competitive advantage they have is tremendous. I have no idea what Med-El and AB spend on R&D, but I'm sure Cochlear spend a lot more.
I think COH is Buffet's dream company he talks about in terms of competitive advantage and ROE, but unfortunately it's too small for him and he'd take his 19.9% holding without so much as blinking.
I can confidently say there is a huge level of unawareness/ignorance when it comes to cochlear implants and there is a HUGE unmet demand. CIs are gaining more and more momentum, especially with young or newborn babies who are deaf, as that is the best time to get them. The problem is more lack of funding or money than anything right now. But, I think as the public becomes more aware of the impact they can have on lives, you'll see more people forking out the ~$30k or so out of their own pockets if they can't get the funding or insurance to cover it. I would have never have paid the $30k before I got mine, but after having it for a little over 6 months, I'd fork that money out in a heart beat now knowing what it can do for me.
This could be interesting for Cochlear
http://www.thedeal.com/content/restructuring/otologics-looks-to-sell-assets.php
Wonder what those patents are worth?
http://www.thedeal.com/content/restructuring/otologics-looks-to-sell-assets.php
Wonder what those patents are worth?
for those who missed it - there was a feel good article played last night on the program Sunday night. It was great to watch videos of people hearing for the first time! Makes you proud to be a shareholder!
http://au.news.yahoo.com/sunday-night/features/article/-/14375426/first-sounds/
http://au.news.yahoo.com/sunday-night/features/article/-/14375426/first-sounds/
McCoy Pauley
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I agree with you almost entirely, but this wouldn't be a company that would interest Buffett, for a few reasons. First, he wouldn't understand the technology (not within the sphere of his competence). He claims not to have understood how Microsoft made money, so he never invested in Microsoft, even though he's besties with Bill Gates.
Secondly, Buffett wouldn't like to see the amount of money spent annually on R & D by Cochlear. Given that patents have finite lives and protect only what is claimed in the patent, Cochlear (and every other medical technology company) must spend a considerable fraction of their revenue on developing new technology. Buffett would likely consider that the competitive advantage enjoyed by Cochlear is relatively transitory and that Cochlear must continue to spend to maintain that advantage.
McCoy Pauley
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I saw the promos Seven was running for that last night, and they kept calling it a "new breakthrough" or something similar. I said to my wife at the time that I was positive it was a Cochlear implant which had been around for years.
While Cochlear had the majority focus of the story - it wasn't just about Cochlear. The 'new breakthrough' related to a product from a US company (I didn't pick up their name, but the device is called 'Esteem'), that attacks the problem from a different direction and can help people that can't benefit from a Cochlear implant.
Info on the story (including video) here:
http://au.news.yahoo.com/sunday-night/features/article/-/14375426/first-sounds/
McCoy Pauley
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Big jump today ahead of the full year results being announced tomorrow morning.
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That may be - but it's still only got to the resistance level of the wedge.
It's got to break with volume - shall watch closely when the results are out.
daily chart:
and weekly chart:
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