Technical outlook – InvoCare Limited (IVC) appears to have hit many ‘bumps’ since taking a tumble from $15.00, back in late February.
Looking forward, although we view this stock as a potential buy, (given from the technical assessment) there still appears to be further hurdles before reaching its potential target of either to $12.00 or $13.00-45.
The two leading indicators, the 3-day Relative Strength Index (RSI) lookback and Moving Average Convergence Divergence (MACD) are currently strengthening.
Company Overview – InvoCare Limited (IVC) owns and operates funeral homes, cemeteries and crematoria around Australia, New Zealand and Singapore.
Key funeral brands are White Lady Funerals, Simplicity Funerals and Singapore Casket.
IVC also operates over 290 funeral locations and 16 cemeteries and crematoria.