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- 1 HOLX stock price is looking to retest the trendline near $80.
- 2 Bears are looking to drag the price toward the gap near $70.
Hologic Inc. (HOLX stock) price shows a breakdown of the head and shoulders pattern and dragged below the support of $80 in the last sessions. Moreover, the chart shows a gap that was yet to be filled near $70, which sellers are looking to fill in the following sessions, and price action suggests that if stock slips below $72, it heads toward $65.
Furthermore, the chart structure shows that a correction was pending if selling pressure arises, then a down move can be seen. However, the price action suggests neutrality on the charts, and stock made a double bottom near $72, valid if the price escapes above $80, leading to a retest of the trendline near $85. In the last session, the stock closed above the 20-day EMA, indicating that buyers are attempting to regain strength and are willing to surpass the neckline of $78.
At press time, HOLX stock price is trading at $76.86 with an intraday gain of 2.17%, showing neutrality on the charts. Moreover, the trading volume increased by 1.90% to 2.387 Million, and the market cap is $18.826 Billion. However, Analysts maintained a buy and outperform rating with a yearly target price of $90.64, suggesting a solid growth outlook for the following sessions.
Hologic, Inc. engages in developing, manufacturing, and supplying diagnostics products, medical imaging systems, and surgical products dedicated to serving women’s healthcare needs. It operates through the following segments: Breast Health, Diagnostics, GYN Surgical, and Skeletal Health.
The Breast Health segment is involved in a portfolio of solutions for breast cancer care for radiology, pathology, and surgery. The Diagnostics segment focuses on products used to aid in the screening and diagnosing of human diseases. The GYN Surgical segment offers the NovaSure Endometrial Ablation System, the MyoSure Hysteroscopic Tissue Removal System, and the Fluent Fluid Management System.
HOLX Stock Price Action On Daily Charts
On the daily charts, the HOLX stock price could surpass the neckline of $78 and made a solid bullish candlestick in the last session, which indicates buyers are gaining traction and willing to re-enter above the neutrality.
However, HOLX stock is close to multiple barriers, which might be challenging for the bulls to surpass the clusters. Moreover, the price took rejection from the 61.8% Fib level and slipped below 50%, which buyers are looking to retain.
The RSI curve bounced from the oversold region with a positive crossover, indicating that buyers are starting to accumulate and are willing to regain the highs.
The MACD shows a bearish crossover, and the decline in red bars indicates that the correction has ended. However, the price is neutral, and the battle is exciting for the following sessions.
Conclusion
Hologic Inc. (HOLX stock) price is trading near the 20-day EMA, and the stock closed above it in the last session, indicating the intention to reach the trendline near $85. Moreover, the trading volume showed a spike, indicating stock demand. Furthermore, the stock has made a double bottom, which indicates an up move for the following sessions.
Technical Levels:
Support Levels: $220 and $200
Resistance Levels: $250 and $270
Disclaimer
The views and opinions stated by the author or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
