This morning, leading healthcare stock, Humana Inc (HUM), is trading lower after reporting earnings that failed to impress Wall Street. The stock is trading down by 6.43% to $437.45 a share. Traders should note that Humana Inc (HUM) stock is now trading below its important 50-day moving average. This decline puts the stock in a weak technical position in the near term and often signals further downside.
Traders and investors should now watch for daily chart support around the $420.00 level. This is where the stock reversed higher on June 15th, 2021 before surging into the recent July top. Often, major reversal pivots will serve as excellent support when they get retested.
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