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- 1 HUM stock price has attained momentum and has shown a reversal in the past trading sessions.
- 2 HUM share price has surpassed the 20-day EMA.
Humana Inc. (HUM stock) price has surpassed the 20-day EMA hurdle and showed a reversal sailing inside the rising parallel channel in the last trading sessions. Furthermore, buyers looking to fill the unfilled gap near $510 were gaining traction and are close to the round mark of $500. Moreover, the HUM stock price is now forming higher highs and suggests that buying action will continue and that the stock will attain bullishness soon. HUM stock price needs to sustain above $500 and will trap the bears for a fresh bull rally beyond the primary hurdle of $510. Besides the recovery, bears have maintained their strong grip near $500 and are trying their best to prevent the region for further retracement.
HUM stock price is trading inside the rising parallel channel, initiating a recovery and gaining strength in the past sessions. Furthermore, the bulls were trying to fill the gap and are heading toward the cluster of $500, which must escape to extend the gains; if it fails to surpass, it will be a negative sign for the bulls, and HUM stock will retest the 100 day EMA range in the following sessions. Additionally, the options chain shows that, at the strike price of $500, a massive open interest of 275 hundred shares on the call side shows a strong resistance zone. In contrast, at the strike price of $495, the open interest of 137 hundred shares on the put side shows an immediate support zone.
At the press time, HUM stock price is trading at $499.81 with an intraday gain of 1.30%, showing bullishness in yesterday’s trading session. Moreover, the trading volume increased by 0.56% to 1.89 Million, and the market cap is $61.93 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $584.90, which suggests a strong growth outlook for the following sessions.
Humana Inc. engages in the provision of health insurance services. It operates through the Insurance and CenterWell segments. The Insurance segment consists of Medicare benefits, marketed to individuals or directly via group Medicare accounts, as well as contracts with CMS to administer the Limited Income Newly Eligible Transition, or LI-NET, prescription drug plan program and contracts with various states to provide Medicaid, dual eligible demonstration, and Long-Term Support Services benefits, which refer to as state-based contracts.
Will HUM Stock Persist in Attaining Reversal?
On the daily charts, HUM stock price is rising inside the channel and has attained momentum. Furthermore, the HUM share price is close to the round mark of $500, which, if surpassed, would head to fill the uncovered region near $510 in the following sessions. Furthermore, the HUM stock price has surpassed significant moving averages and is above the 50% Fib level, showing neutrality on the charts.
The RSI curve stayed in the overbought zone and formed a positive crossover, indicating the buying interest witnessed in the past trading sessions.
The MACD shows a bullish crossover and green bars on the histogram, suggesting that buyers will continue to extend the gains and try to surpass $500.
Summary
Humana Inc. (HUM stock) price is trading close to the round mark of $500 and shows a reversal in the past sessions. Furthermore, the buyers have attained momentum and are trying to extend the recovery beyond the immediate hurdle of $500 to reach the blue sky zone beyond $520. Moreover, the price action is favoring the bulls, and a short covering rally is anticipated.
Technical Levels
Support Levels: $490 and $480
Resistance Levels: $500 and $510
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.
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.
