Apollo Medical Holdings, Inc.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) is a healthcare management company, which operates an integrated healthcare model.
As per the previous recommendation on AMEH as of June 23, 2022, a ‘Spec Buy’ rating was recommended on the stock at USD 37.33 and noted below are the details of support and resistance provided in the previous report and the stock price has moved by 36.54%.
Recommendation Summary as on June 23, 2022
AMEH’s Daily Chart
Considering the resistance levels attainment, we are of the view that it is prudent to book profits at the current levels. Hence, we give a 'Sell' rating on the stock at the closing price of USD 50.97 (as of July 25, 2022).
Note:1 Related Risk: This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
How to Read the Charts?
The Green colour line reflects the 21-period simpe moving average (SMA) while the red line indicates the 50- period simple moving average (SMA). SMA helps to identify existing price trend. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.
The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.
The Blue colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps in easier and faster execution of the order.
The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.