Company Overview: Integral Diagnostics Limited (ASX: IDX) is an Australian healthcare services company involved in delivering Diagnostic Imaging Services to general practitioners, patients, medical specialists, and allied health professionals. The report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss Level, and Recommendation on this stock.

As per our previous report on IDX as on May 04, 2023, a ‘Speculative Buy’ recommendation was given on the stock at AUD 3.39 for a period of 4-6 weeks and noted below are the details of the recommendation summary provided in the previous report:

Recommendation Summary as on May 04, 2023

Technical Analysis:

IDX’s prices are hovering around an Inverse Head and Shoulders pattern’s neckline for the past couple of weeks with a positive bias, indicating the possibility of further upside movement hereon. The leading indicator RSI (14-period) is sustaining above the midpoint, and the 21-period and 50-period SMAs are below the current market price (CMP), further supporting a positive bias.

Considering the recent price action and technical indicators analysis, the stock seems in the positive territory from the technical analysis standpoint; hence a ‘Hold’ rating is recommended on the stock at the close price of AUD 3.18 as on June 19, 2023, for a period of 1-2 week. The summary of revised Target Levels and Stop Loss for IDX is provided below: 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is June 19, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.

Disclaimer - This report has been issued by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and prepared by Kalkine and its related bodies corporate authorised to provide general financial product advice. Kalkine.com.au and associated pages are published by Kalkine.

Any advice provided in this report is general advice only and does not take into account your objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Statement or other offer document for the securities or other financial products referred to in Kalkine reports. You should obtain a copy of the relevant Product Disclosure Statement, Information Statement or offer document and consider the statement or document before making any decision about whether to acquire the security or product.

You should also seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice in this report or on the Kalkine website. Not all investments are appropriate for all people.

The information in this report and on the Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of information contained in its reports, newsletters and websites. All information represents our views at the date of publication and may change without notice.

Kalkine does not guarantee the performance of, or returns on, any investment. To the extent permitted by law, Kalkine excludes all liability for any loss or damage arising from the use of this report, the Kalkine website and any information published on the Kalkine website (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine hereby limits its liability, to the extent permitted by law, to the resupply of services. Please note past performance is neither an indicator nor a guarantee of future performance.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this report or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website including entities covered in this Report.