Relative Strength Healthcare Midcap Nears Breakout to Highs
Encompass Health (EHC) shares of the mid cap health care name are showing great relative strength the past month in a wild market and actually closed just a bit off new 52-week highs Wednesday as it cleared monthly value area resistance of 101 and above all key moving averages. EHC looks primed to breakout to fresh highs and trend higher if the markets start a new leg up. On the recent dip EHC held the 200-day EMA perfectly when it tested it at 94. EHC does not see much options action but last summer saw an insider buying stock near $84/share.