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The question on everyone's mind: Will OPTION CARE HEALTH INC breakout?

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.

OPCH Daily chart on 2023-09-18

Zooming in on the technicals.

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.

  • The long and short term trends are both positive. This is looking good!
  • OPCH is part of the Health Care Providers & Services industry. There are 114 other stocks in this industry. OPCH outperforms 86% of them.
  • OPCH is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so OPCH is leading the market.
  • When comparing the yearly performance of all stocks, we notice that OPCH is one of the better performing stocks in the market, outperforming 82% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
  • In the last month OPCH has a been trading in a tight range between 33.83 and 35.71.

Check the latest full technical report of OPCH for a complete technical analysis.

How does the Setup look for NASDAQ:OPCH

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.

Trading breakout setups.

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.