Universal Health Update
Gary S. Morrow | Sep 15, 2020 02:22AM ET
Universal Health Services (NYSE:UHS) was in break out mode yesterday. The more than 3% gain drove shares past heavy resistance near $115.00.
This key $115 zone capped the post-March peak at multi-month highs. Since UHS’s solid Q2 earnings report back on July 27th, the stock had been consolidating in a very narrow range below a declining 200D moving average. This healthy sideways action appeared to be giving way to a fresh rally leg yesterday at the start of the week.
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