HCA to buy after a retracement?
HCA is one of the stocks to look at after the Biden election. Indeed, one of the strengths of his program is the healthcare policy proposals that aim to create a Medicare-like public healthcare option.
The price has tested the resistance at 152$ and looking at Bollinger bands it went out of the channel. Furthermore, RSI is about to reach the overbought zone (also Stochastic). Therefore, I think that it is appropriate to wait before opening a long position. A good price to buy HCA stocks would be between 133 $ and 140 $ that is between Fib retracement of 0.3 and 0.6. The price here should also be supported by the SMA 50.
Moreover, looking at the last week's volumes ( 2h or 4h), it is possible to notice that they decreased. That can increase the probability of a retracement in the short term.
Another more conservative strategy may be to wait for a candle that strongly breaks the resistance.
what's your thought
The price has tested the resistance at 152$ and looking at Bollinger bands it went out of the channel. Furthermore, RSI is about to reach the overbought zone (also Stochastic). Therefore, I think that it is appropriate to wait before opening a long position. A good price to buy HCA stocks would be between 133 $ and 140 $ that is between Fib retracement of 0.3 and 0.6. The price here should also be supported by the SMA 50.
Moreover, looking at the last week's volumes ( 2h or 4h), it is possible to notice that they decreased. That can increase the probability of a retracement in the short term.
Another more conservative strategy may be to wait for a candle that strongly breaks the resistance.
what's your thought
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