This company has a solution for sleep apnea, a problem often associated with snoring that causes the breathing to be interrupted, sometimes so often that it reduces the quality of sleep to the point where the patient is constantly tired, and displays rather irrational behavior in some cases. The solution Resmed has , is a little machine that ups the pressure by way of a mask that has the effect of keeping the nostrils open (I think). Supposedly some 20% of men over a certain age suffer from this affliction to some extent. RMD and its competitor, Phillips (medical systems) only have about 10% of patients sold on the product, a major problem is that nobody wants to own up to snoring. Anyway, this works and the market is a long way from its saturation point. Here are the charts.
The stock has just “double topped” at around $55, it may well go a little higher to the upper trendline somewhere around $63 but if the EW count is correct it will not do so. Again risk /reward favors a sell at these levels or just slightly higher – pick your level between 55 and 63 – for a probable target near $30. The count shown is just a wild guess between a big B-wave or a 5th, either way $30 should soon be next.