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By Mill Chart

Last update: Sep 19, 2023

Our stockscreener has identified a possible breakout setup on OPTION CARE HEALTH INC (NASDAQ:OPCH). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:OPCH for potential opportunities.

OPCH Daily chart on 2023-09-19

What is the technical picture of NASDAQ:OPCH telling us.

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall OPCH gets a technical rating of 8 out of 10. Both in the recent history as in the last year, OPCH has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • Looking at the yearly performance, OPCH did better than 81% of all other stocks.
  • 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 in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so OPCH is performing more or less in line with the market.
  • In the last month OPCH has a been trading in a tight range between 33.83 and 35.71.

For an up to date full technical analysis you can check the technical report of OPCH

Why is NASDAQ:OPCH a setup?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:OPCH currently holds a 10 as its setup rating, suggesting a particular level of consolidation in the stock.

OPCH has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 34.72. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.48, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for OPCH in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

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.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.


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.