HUM breaks above 20-day moving average for the first time since March 6th


Humana Inc. (HUM) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team

Highlights

HUM rallies 13.19% closing $35.47 higher
HUM breaks above 20-day moving average for the first time since March 6th
HUM dominated by bulls lifting the market higher throughout the day
HUM closes higher for the 3rd day in a row
HUM pushes through Wednesday's high

Overview

Moving higher for the 3rd day in a row, HUM finished Thursday at 304.48 surging $35.47 (13.19%), significantly outperforming the S&P 500 (6.24%). This is the biggest single-day gain in over three weeks. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 281.28, the market confirmed its breakout through the previous session high after trading up to $25.68 above it intraday.

Daily Candlestick Chart (HUM as at Mar 26, 2020):

Daily technical analysis candlestick chart for Humana Inc. (HUM) as at Mar 26, 2020

Thursday's trading range has been $36.92 (13.56%), that's above the last trading month's daily average range of $28.18. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for HUM.

One bullish candlestick pattern matches today's price action, the White Candle.

The share managed to close above the 20-day moving average at 301.01 for the first time since March 6th. When this moving average was crossed above the last time on March 4th, HUM actually lost -0.47% on the following trading day. Prices are trading close to the key technical resistance level at 323.30 (R1).

Humana shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Humana. Out of 164 times, HUM closed higher 52.44% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 58.54% with an average market move of 0.78%.


Market Conditions for HUM as at Mar 26, 2020

Loading Market Conditions for HUM (Humana Inc.)...
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