Oscar Health took a major hit this year due to ACA-related votes and sector headwinds, leading to sharp price declines.
The stock broke its downtrend aggressively, signaling strong momentum, although the pullback has also been volatile.
Oscar currently trades far below its estimated fair value of $18–$20, making the price look attractive for a recovery.
For bullish confirmation, I want to see clear closes above $17 – the 50% Fibonacci retracement between the wave 1 high and wave 2 low. Only then would I expect wave 3 to be underway.
Without this technical confirmation, my bias remains neutral.
The stock broke its downtrend aggressively, signaling strong momentum, although the pullback has also been volatile.
Oscar currently trades far below its estimated fair value of $18–$20, making the price look attractive for a recovery.
For bullish confirmation, I want to see clear closes above $17 – the 50% Fibonacci retracement between the wave 1 high and wave 2 low. Only then would I expect wave 3 to be underway.
Without this technical confirmation, my bias remains neutral.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.