RMD dropped another -5.2% yesterday on follow through selling from this month’s disappointing result but its been a weak market this week, RMD has traded ex-dividend and the stock is only down -2% for the week so far i.e. not too bad in our opinion, although another tough session played out overnight in the US.
- We believe RMD is looking for a low after its savage -21% drop after the result but we may have averaged a touch too early.
MM remains long and bullish toward ResMed Inc (RMD)
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