SELECT MEDICAL HOLDINGS CORP - NYSE: $SEM Rounding BottomLast week, SELECT MEDICAL HOLDINGS CORP - NYSE:SEM recaptured its 200 DMA and now finds itself attempting to build on the recent grind into higher ground. In addition, when we examine the action of the Daily chart above, we can also observe that SEM appears to be coming out of a potential rounding bottom.
Furthermore, the stock now finds itself trading above all of its important moving averages 20/50/200 DMA's, which is a positive from a technical viewpoint.
Thus, both investors/traders may want to continue to monitor the action of SEM in the days/weeks ahead as we believe that it may have eyes initially for the open gap near $17.75, yet more likely, we envision a potential move into the $18 - $20 zone and possibly higher.
Nevertheless, SEM displays favorable characteristics across multiple time-frames on the Daily; Weekly; Monthly durations and we suspect that we may just be in the early innings of a move into northern territory.
****NOTE**** SEM will report Earnings on August 1, 2019 before Market Open.
