Well done to those that bought the dip on this below $300. I filled 80% of my position at $250 - the Point of Control according to the highest volume node.
We had a capitulation in the top healthcare insurer. Absolute peak fear given the long list of events which culminated in the CEO leaving. His departure could have been the final flush out as holders capitulated.
This presented a unique opportunity to get in on an undervalued stock trading at a P/E of 11.1.
I’m a trader, so I won’t comment on the ethics of this company, it’s beyond the scope of my work.
Technically I expect this relief rally to continue but in a corrective fashion with a potential resistance level looming. The 5th wave ending is normally followed by an abc correction, wave A has concluded, wave B is in play so I expect onward bullish recovery. For confluence, the weekly RSI had a complete reset hitting level of 30, the most oversold in many years. My indicator has flashed green (buy) so $250 could have been a generational low.
None of this is financial advice, I got in at a good entry and I have a stop loss in place if this poops the bed again.
We had a capitulation in the top healthcare insurer. Absolute peak fear given the long list of events which culminated in the CEO leaving. His departure could have been the final flush out as holders capitulated.
This presented a unique opportunity to get in on an undervalued stock trading at a P/E of 11.1.
I’m a trader, so I won’t comment on the ethics of this company, it’s beyond the scope of my work.
Technically I expect this relief rally to continue but in a corrective fashion with a potential resistance level looming. The 5th wave ending is normally followed by an abc correction, wave A has concluded, wave B is in play so I expect onward bullish recovery. For confluence, the weekly RSI had a complete reset hitting level of 30, the most oversold in many years. My indicator has flashed green (buy) so $250 could have been a generational low.
None of this is financial advice, I got in at a good entry and I have a stop loss in place if this poops the bed again.
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