Good technical signals and a possible breakout for Hca Holdings Inc.

Our stock screener has spotted Hca Holdings Inc (NYSE:HCA) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:HCA.

Technical analysis of NYSE:HCA

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to HCA. Both in the recent history as in the last year, HCA has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, HCA did better than 90% of all other stocks. On top of that, HCA also shows a nice and consistent pattern of rising prices.
• HCA is one of the better performing stocks in the Health Care Providers & Services industry, it outperforms 85% of 128 stocks in the same industry.
• HCA is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month HCA has a been trading in the 239.84 - 261.80 range, which is quite wide. It is currently trading near the high of this range.

Why is NYSE:HCA a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:HCA scores a 8 out of 10:

HCA has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

How can NYSE:HCA be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Every day, new breakout setups can be found on ChartMill in our Breakout analyzer.