Health Insurance Stocks Tumble, Watch This Trade Level
Nicholas Santiago | Dec 06, 2018 10:56PM ET
Today, most of the leading health insurance stock are falling sharply lower. Leaders in the industry group such as Humana (NYSE:HUM), WellCare Health Plans (NYSE:WCG), UnitedHealth Group (NYSE:UNH) and others are all trading in negative territory. A couple days ago, a Federal judge voiced concerns over the DOJ's approval of CVS/Aetna merger. This news is the likely catalyst for the big decline in the sector.
Humana is a leading stock in the health insurance group that is trading lower by $14.76 to $309.71 a share. This stock is now testing its 200-day moving average. Should this stock close below this key moving average it would indicate lower prices ahead. The next major support area that looks attractive for HUM stock will be around the $290.00 level. This is where the stock broke out in May 2018 and should be very solid chart support when retested.
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