Buying opportunities

Primary Health Care provides services to health professionals, offering a network of medical and pathology centres across Australia. The first stages in a reversal process were completed in May and June with the price rising to a significant barrier near $6.50. The price is pausing in a buying opportunity in the $5.65-$6.40 range with back-up near $5.40, ahead of breaking through the barrier towards $6.80 and then $7.65 with the potential to extend the move through $8.00. The risk would be a drop towards $5.00.

Pushing higher

Sonic provides radiology and pathology services in many countries. The share price has been moving sideways within a broad band since 2005. The sell-off to $10.50 in March created a new low in the phase but provided a turning point and strong recovery, which is set to test its next barrier zone in the $14.50-$15.00 area. More consolidation may be required underneath before breaking higher towards $16.50 and the peak around $17.50 and potentially higher. The risk level is $13.35.

Regina Meani is a freelance consultant and author of Charting (Wrightbooks).

The views expressed are those of the writer alone and investors should seek independent advice.

Pausing

Avexa's focus is developing anti-infective pharmaceuticals. A head and shoulders reversal was completed on October 14 with the price jump to 16 cents. Moving higher to 22 cents, the price has paused and may pull back towards 15 cents before approaching the 25-cent resistance with the potential towards 30 cents and then 40 cents. The risk is a drop below 14 cents.

Moving higher

Alchemia discovers and develops human therapeutic products. In December 2008, the price fell to a double turning point at 9 cents, reversing the downward path. The price has since climbed through resistance points, most recently at 60 cents. This indicates the potential for a rise towards 70 cents and then possibly through $1.00. A drop beneath 56 cents may delay the upside.