Home
News
- 1 HCA stock price is trading close to the demand zone of $225.
- 2 Buyers have tried their best and succeeded in holding the gains.
HCA Healthcare Inc. (NYSE: HCA) HCA share price has witnessed a selloff due to the Q3 earnings impact and was dragged toward the demand zone of $225. However, the buyers have held the gains and are trying to bounce. Meanwhile, $235 is acting as a strong resistance. A reversal is probable if that gap is closed, otherwise, further selloff toward $200 will be anticipated.
HCA stock price is trading below the significant moving averages and has shown a breakdown. Recently, the Q3 earnings results were below the estimates, net income fell by 4.85% (YoY) to $1.08 Billion and the EBITDA slipped by 1.07% (YoY) to $2.86 Billion, and the market reacted negatively, resulting in slippages below the 20 day EMA.
HCA stock as per the options chain data shows that, at the strike price of $230, open interest of 755 hundred shares on the put side, whereas 393 hundred shares on the call side (Data from the Nasdaq.com). Similarly, at the strike price of $240, data indicates the long unwinding activity and bulls were trapped and are in trouble now.
At press time, HCA stock price was $225.29 with an intraday gain of 1.57% showing neutrality on the charts. Moreover, the trading volume increased by 0.25% to 1.32 Million and the market cap is $60.301 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $287.82 suggesting a strong growth outlook.
HCA Healthcare, Inc. is a health care services company engaged in operating hospitals, freestanding surgery centers and emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, radiation and oncology therapy centers, comprehensive rehabilitation and physical therapy centers, physician practices, home health, hospice, outpatient physical therapy home and community-based services providers, and various other facilities. The company was founded by Dr. Thomas F. Frist, Jr in 1968 and is headquartered in Nashville, TN.
Will HCA Stock Attain a Pullback Above $230?
On the daily charts, HCA stock price witnessed a correction from the highs of $300 and has retested the demand zone of $220, corrected over 25% so far. Moreover, the chart shows the rounding top pattern and a sharp correction. Moreover, HCA stock slipped below the 38.2% Fibonacci retracement zone and is on the verge of the lower bollinger band.
The RSI curve stayed in the oversold region highlighting bearish dominance on the charts. The MACD shows a bearish crossover and red bars on the histogram suggesting a negative outlook for the upcoming sessions.
Summary
HCA stock price is trading in the bearish trajectory and has showcased bearish dominance. Furthermore, the price action witnessed the breakdown below the crucial support zone of $250 and is heading toward the round mark of $200. Additionally, selling pressure has continued and buyers have started unwinding their long positions which is a negative sign.
Technical Levels
Support Levels: $140 and $135
Resistance Levels: $145 and $150
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.
