Another Healthcare Insurance stock plummeting from it's high. This time it's Centene pulling guidance, this would have been a great short since UNH was the first to do this. Classic head and shoulders pattern formed after the end of the 5 wave move up. The healthcare insurance stocks are tumbling, the house of cards is crumbling.
Does it present an opportunity for a long term investor? Perhaps. From a swing trade idea, if we lose $30-33 then this is tumbling another 25% to the low $20s.
Be careful catching a falling knife. If you are prepared to hold and buy on further dips, it could present an opportunity. As this space continues to crumble, I expect UNH to acquire some of these companies and come out on top. But it could take time for this sector to recover, so patience is required.
Not financial advice, do what's best for you.
Does it present an opportunity for a long term investor? Perhaps. From a swing trade idea, if we lose $30-33 then this is tumbling another 25% to the low $20s.
Be careful catching a falling knife. If you are prepared to hold and buy on further dips, it could present an opportunity. As this space continues to crumble, I expect UNH to acquire some of these companies and come out on top. But it could take time for this sector to recover, so patience is required.
Not financial advice, do what's best for you.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.