News Column

Life Healthcare Stock snaps losing streak

January 22, 2014

Life Healthcare snapped the longest series of losses since August 2012 as the outlook for its operations prompted buyers to halt the sell-off. The stock rose as much as 3 percent and closed 0.8 percent up at R37.90. The 14-day relative strength index fell to 28 on Monday, the lowest level since it listed in June 2010 . A reading below 30 implies an oversold position. "We still have confidence in Life Healthcare's prospects with their exposure in India through Max Healthcare and then locally being the largest hospital group by beds," Jean Pierre Verster at 36One Asset Management said. - Bloomberg Pretoria News

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Source: Pretoria News (South Africa)

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