Laboratory Corporation of America Holdings, more commonly known as LabCorp, is an American S&P 500 company headquartered in Burlington, North Carolina. It operates one of the largest clinical laboratory networks in the world, with a United States network of 36 primary laboratories.
#LH presents a strong bullish trend line from April 2020: the trend line has been tested over the period for at least three times together with higher highs from June 2020.
Looking more into recent times, in the past weeks the stock has dropped from $218 to $195: we believe this pullback can be an interesting opportunity for a long position.
In fact, the stock recently broke out of the descending triangle with a strong green bullish candle/
Together with a 50MA holding strong and a MACD sloping up and approaching the 0 level, for the near future we see the below:
Entry price: $ 198.73
1st target: $ 205.54
2nd target: $ $ 216.04
Stop loss: $193.82
London, 10 December 2020
OTB Global Investments