By Mill Chart
Last update: Sep 18, 2023
Our stock screener has flagged OPTION CARE HEALTH INC (NASDAQ:OPCH) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NASDAQ:OPCH for potential movement.
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.
Overall OPCH gets a technical rating of 8 out of 10. Although OPCH is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Check the latest full technical report of OPCH for a complete technical analysis.
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:OPCH this score is currently 9:
Besides having an excellent technical rating, OPCH also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 35.02. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.81, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.
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.
More breakout setups can be found in our Breakout screener.
This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.
OPTION CARE HEALTH INC
NASDAQ:OPCH (9/21/2023, 10:47:56 AM)
A technical analysis of OPTION CARE HEALTH INC (NASDAQ:OPCH) shows it may be setting up for a breakout.
OPTION CARE HEALTH INC (NASDAQ:OPCH) showing some interesting technicals. Here's why.
BANNOCKBURN, Ill., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Option Care Health Inc. (“Option Care Health”) (NASDAQ: OPCH), the nation’s largest independent...
Guardant Health stock saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an increase from 79 to 85.
Option Care Health press release (OPCH): Q2 GAAP EPS of $0.63.Revenue of $1.07B (+9.1% Y/Y).Gross profit of $250.8 million, or 23.5% of net revenue, up 15.6% compared to $216.9...
BANNOCKBURN, Ill., July 27, 2023 (GLOBE NEWSWIRE) -- Option Care Health, Inc. (the “Company” or “Option Care Health”) (Nasdaq: OPCH), the nation’s...