USA A1 Trading Advice (B) | 04-Sep-2024 | Expected Gain 4%-5%

 BUY   Encompass Health Corporation (NYSE: EHC)

Encompass Health Corporation (NYSE: EHC) STOCK RECOMMENDATION

Idea BUY
Buy Range 92 – 93
Target 96.5 – 97
StopLoss* below 90
Duration 8-10 Trading Days
Potential Returns 4% – 5%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 92 – 93 96.5 – 97 below 90 8-10 Trading Days 4% – 5%

* Once the first target hit, reset the StopLoss at your buying price.

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Encompass Health Corporation (NYSE: EHC) STOCK OVERVIEW

Encompass Health Corporation offers post-acute healthcare services in the U.S. and Puerto Rico. It runs inpatient rehabilitation hospitals that deliver medical, nursing, therapy, and support services. The company specializes in inpatient rehabilitation for patients with physical or cognitive disabilities from conditions like strokes, hip fractures, and neurological issues. Services are provided through Medicare, managed care plans, private insurers, and state governments. Previously named HealthSouth Corporation, it rebranded to Encompass Health in January 2018. Founded in 1984, it is headquartered in Birmingham, Alabama.

Stock Data
NYSE Symbol EHC
Sectoral Index Health Care
52 Weeks High 94.38
52 Weeks Low 57.55

Encompass Health Corporation (NYSE: EHC) - RELATIVE STRENGTH

EHC-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Encompass Health Corporation —     NYSE —

Encompass Health Corporation (NYSE: EHC) - DAILY TECHNICAL ANALYSIS

Encompass Health Corporation (NYSE: EHC) - Technical Analysis (Daily)
  • The stock price previously formed a Rounding Bottom pattern while consolidating.
  • Following a breakout, it surged to the 87 level before entering a box pattern for further consolidation.
  • Another breakout led to an impressive all-time high of 94.4, after which the price experienced a brief pullback to the trendline support.
  • Now, the stock is rebounding and is on the verge of reaching its previous all-time high.
  • We anticipate that it may surpass this level and achieve new highs.

Encompass Health Corporation (NYSE: EHC) - RSI

Encompass Health Corporation (NYSE: EHC) - RSI
  • Current RSI of this stock is 67.21, which indicates the strength of buyers.

Encompass Health Corporation (NYSE: EHC) - MACD

Encompass Health Corporation (NYSE: EHC) - MACD
  • MACD line has just crossed the signal line from the below, generates bullish signal.

Encompass Health Corporation (NYSE: EHC) - ADX & DI

EHC-ADX & DI
Encompass Health Corporation (NYSE: EHC) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Encompass Health Corporation (NYSE: EHC) STOCK PRICE FORECAST

Based on our stock trading advice in USA, Encompass Health Corporation stock price target will be USD 96.5 – USD 97 in the next 8-10 trading sessions.

Encompass Health Corporation (NYSE: EHC) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance ofย Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as aย Certified Financial Technician (CFTe)ย by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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