HCA Healthcare (HCA) is turning up at a key level and showing signs that the long-term uptrend is resuming. HCA is in a long-term uptrend because it broke out in January and recorded a 52-week high. This breakout zone turned into support around 82 as the stock fell back to this area with a “throwback”. A classic tenet of technical analysis is that broken resistance turns into first support. HCA successfully tested this newfound support zone with a bounce the last two weeks. Also notice that the PPO(5,30,5) turned up, which means upside momentum is moving in the right direction.
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