HCA Healthcare Inc. (NYSE: HCA) has been consistent in its growth, which reflects in its HCA stock price. The company is involved in operating hospitals and health care related services. By the end of 2022, HCA had 182 operational hospitals and about 2,300 ambulatory sites including surgery centers, emergency rooms, physician clinics, etc.
Fall in HCA Stock Price After All-Time High
In the last intraday session on Friday, June 7, 2023, the HCA stock price witnessed a slight 1.01% decline and traded at around $291.49. As it was seen across the stock market, the broader stock market fell slightly. The S&P 500 lost 0.29% of its value and settled at 4.389.95 points while Dow Jones Industrial Average lost 0.55% of its value in the 24 hours before settling down at 33,734.88 points.
Currently, the HCA healthcare stock price roams at the upper side of the 52-week range, given it recently attained its all time high trading price since its listing. It was only last week on Monday, June 30, the stock price hit $304.86. The currency price of HCA stock is about $13.37 less than its ATH, down by over 4%.
HCA Stock Price Movement on Chart
Though HCA stock price was making constant upward movements, the golden crossover formed at around $215 in December 2022 pushed it forward till its recent high. The stock price has been in an uptrend for the past several months. Currently, it is above both the 50- and 200-day EMA and with a consistently broadening gap ensuring the continued uptrend.
However, the HCA stock price has overstretched and might make a swing till the trendline. In case of a decline, the price level at $260 is a major support for a shorter timeframe while $240 is acting as a support for a longer time frame. HCA stock looks at $305 as a strong resistance from the current price level.
HCA Healthcare Inc. is expected to release its Q2 earnings report by July 27, 2023. The instance is likely to be a make or break moment for the stock price. It could either continue the uptrend and break the resistance, or else could see a reversal.
The recent upward movement of the healthcare company resembles the broader healthcare sector where the stock price of competitive firms saw a rise. Community Health Systems Inc. (NYSE: CYH) rose by 3.76% and Tenet Healthcare Corp. (NYSE: THC) was slightly up by 0.13% on Friday.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/10/hca-stock-price-consistent-upward-move-pushed-stock-price-to-ath/