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by Zak Mir

It appeared that for a while there was a degree of negative sentiment associated with medical imaging group Feedback (LON:FDBK), but the background noise now looks to have finally cleared, so to speak.

It can be seen from the daily chart of Feedback that we are finally back on the front foot, a point underlined by the positive aftermath of the spike through the 200 day moving average in September.

From a fundamental perspective it can be said that the group is in a good place. TexRAD, the group’s medical imaging software is selling all over the world, and forms an integral part of the medical prognosis procedures in many leading hospitals.

Recent full year results showed an increase in sales and a reduction in debt. Chairman Dr Alastair Riddell, appointed in 2016 has a long and impressive track record in the pharma, life science and healthcare sectors, and importantly has been involved in IPOs and international trade sales for three UK biotech companies.

Looking at the technical outlook, the stock has progressed within a rising trend channel since the autumn. The floor of the channel currently runs level with the 50 day moving average at 2.05p. The implication is that at least while there is no break back below the 50 day line we should be treated to a 2-3 month time frame target as high as 5p.

In the meantime, any weakness back towards recent broken resistance at 2.5p should be regarded as a buying opportunity as it would cool off the present overbought position in the RSI oscillator towards 90/100.

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