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Archive
- 11/8/2024 -
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Humana Inc. (HUM) Technical Analysis
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| Summary:
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| | It was a first positive week for the Humana Inc. (HUM). During the week, the HUM gained 27.40 points, or 10.51%, and closed at 288.10 on Friday, November 8, 2024. Weekly volume was 47% above average.
HUM is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See HUM long-term trend chart]
A long-term downtrend had started on November 3, 2022 at 571.30 and reached 213.31 on October 2, 2024. HUM lost 357.99 points, or 62.66%, in 99 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 225.78 and resistance is at 481.26. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See HUM medium-term trend chart]
A medium-term downtrend had started on July 18, 2024 at 406.46 and reached 213.31 on October 2, 2024. HUM lost 193.15 points, or 47.52%, in 10 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 121.04 and resistance is at 348.91. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See HUM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since September 13, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See HUM short-term trend chart]
A short-term uptrend had started on November 4, 2024 at 251.80 and reached 297.50 on November 7, 2024. HUM gained -45.70 points, or -18.15%, in 3 days. The price is now at the 20.57% retracement level.
 Daily Technical Indicators: [See HUM daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since October 11, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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