tomgan

HCA to buy after a retracement?

Long
NYSE:HCA   HCA Healthcare, Inc
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
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