Chart of the Week – Pro Medicus Ltd (PME)

It’s not just tech stocks that have struggled this FY, the “Certainty Trade” as it was labelled into June has largely been hammered from CBA to JB Hi-Fi. Another example is Pro Medicus (PME) which soared higher into June, ignoring valuation concerns, only to tumble ~28% in FY26 even as it continues to win new contracts but an Est. 164x valuation for FY26 its valuation remains daunting with rates set to increase.

• We are looking for a break/test of $240 in the coming weeks as the high growth stocks remain heavy – in the case of PME a break of $200 would not surprise.