Spire Healthcare Group (LSE: SPI) SPI stock price traded in a congestion zone and has consolidated in the range for the past sessions. SPI share price witnessed the indecisiveness between the bulls and the bears and is now indicating fresh buying momentum, which may exit the share price toward the bullish region above $250. Furthermore, the chart shows the trendline breakout . The SPI stock price has surpassed significant moving averages and is trading above the primary hurdles.
SPI stock price is witnessing buying interest and is showcasing accumulation by the investors in the past trading sessions. Moreover, SPI stock has formed a double bottom pattern and is now splitting the trendline, which signals the buying momentum on the charts. Furthermore, the SPI share price is trying to retain the bull trajectory above $250. Recently, market sentiments became favourable for the SPI stock due to the strong demand outlook, and the strong H1 2023 numbers strengthened the bulls.
At press time, the SPI stock price was $233.5, with an intraday gain of 1.08%, showing bullishness in yesterday’s market session. However, the trading volume remained average at 580.98K while the market cap is $943.064 Million. Furthermore, analysts maintained a strong buy rating with a yearly target price of $285, suggesting a solid growth outlook.
Spire Healthcare Group Plc. operates as a private hospital group, which offers diagnostics, in-patient day case and out-patient care procedures in areas including orthopaedics, gynaecology, cardiology, neurology, oncology and general surgery and also diagnostic services including imaging and pathology, as well as out-patient services, such as consulting, minor procedures, treatments, health checks and physiotherapy. The company was founded in 2007 and is headquartered in London, United Kingdom.
Will SPI Stock Reach $300 By End of 2023?
On the daily charts, the SPI stock price is trading above the key moving averages, showing the bullishness for the past sessions. Moreover, the price action delivers the buying accumulation and the investors persist in showing interest. Moreover, the SPI share price is trading above the 61.8% Fib zone and is above the mid-Bollinger band, showing bullish dominance.
The RSI curve is in the overbought zone and shows bullish divergence, suggesting a significant upside in the upcoming sessions.
The MACD shows a bullish crossover and green bars on the histogram suggesting a positive outlook for the following sessions.
Summary
SPI stock price is close to the primary hurdle of $235, which, if surpassed, will reach $250. Furthermore, the trend is strong; buyers have persisted in accumulating the stock, and sellers have been trapped for the past sessions. Furthermore, the SPI share price stayed in the overbought zone and held the gains, signifying the buyer dominance.
Technical Levels
Support Levels: $220 and $200
Resistance Levels: $250 and $265
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/09/30/spi-stock-lse-spi-price-is-heading-toward-250-time-to-buy/