"Mad Money" on Monday evening offered up a host of commentary on health care stocks.
On Anthem (ANTM) , Jim Cramer said during the show's "Lightning Round": "I would buy more."
Let's check out some charts from www.stockcharts.com.
In this daily Japanese candlestick chart of ANTM, below, we can see that prices bottomed in February and have soared higher. ANTM is trading above the rising 50-day moving average line as well as the rising 200-day line. The On-Balance-Volume (OBV) line is steady and the Moving Average Convergence Divergence (MACD) oscillator looks ready for a new buy signal soon.
In this weekly Japanese candlestick chart of ANTM, below, we can see that prices broke out on the upside from a two-year consolidation pattern. ANTM is trading above the rising 40-week simple moving average line. The weekly OBV line is strong and the MACD oscillator is bullish.
In this daily Point and Figure chart of ANTM, below, we can see a potential upside price target in the $449 area.
In this weekly Point and Figure chart of ANTM, below, we see that the software is projecting the $562 area as a longer-term price objective.
Bottom line strategy: We have not reviewed the charts of ANTM since Oct. 11, 2019 where we recommended a long position. We are again recommending the long side of ANTM. Traders could go long ANTM at current levels risking to $370 for now. $450 and then the $560 area are our price targets. The charts of UNH and HUM are also attractive.