In his "No Huddle Offense" segment of Mad Money Wednesday night, Jim Cramer urged viewers to never take a great company for granted.
Let's check out the charts of HCA.
In this daily bar chart of HCA, below, we can see that prices have traded higher the past 12 months. HCA is trading above the rising 50-day moving average line as well as the rising 200-day moving average line. The On-Balance-Volume (OBV) line has been rising the past year and tells us that buyers of HCA have been more aggressive and that the trend is likely to continue.
The Moving Average Convergence Divergence (MACD) oscillator has stayed above the zero line for much of the last year. This indicator looks poised for a fresh buy signal.
In this weekly candlestick chart of HCA, below, we can see that prices have been strong since their March 2020 low. Prices are trading above the rising 40-week moving average line.
The weekly OBV line is strong and bullish. The MACD oscillator is bullish but has narrowed in recent weeks.
In this daily Point and Figure chart of HCA, below, we can see a potential upside price target in the $277 area.
Bottom line strategy: We reviewed the charts of HCA back on December 17 and wrote that "The charts of HCA are looking positive. Jim Cramer sees the stock going to $200 and our Point and Figure chart shows a possible $217. Sounds good to me. Use a stop below $150."
Prices reached our $217 target earlier this month but further gains to the $277 area are now being projected. Raise sell stops to $190 from below $150.