Addus Homecare Corporation provides a range of medical and social services at home. Its offerings cover medical services needed during an illness or after surgery, spiritual, emotional, and physical care to terminally ill patients, and non-medical assistance to those at risk of hospitalization. The desire to stay at home and out of hospitals, an aging population, and higher rates of chronically ill patients are key drivers of Addus Homecare Corporation’s long-term growth. Being a major player in a growing industry brightens the prospects of Addus.
The long-term monthly chart for Addus shows an uptrend with consistent higher tops and higher bottoms since 2016. During the past five years, the price has ranged within a clear channel defined by the top and bottom trend lines. In 2021, the price peaked at $128 before falling almost 40% to find support at the bottom trend line. In August 2021, there appears to be a reversal, and the price looks to be moving back up. The target now is north of $120, while a stop loss can be placed below the bottom trend line, at around $77.
Position entered into our long-term tracking portfolio today. The entry point is $91.17, and the stop-loss is $69.97
which is 23% below the entry point. The short-term to medium-term take profit at the top of the trend is set at $107.91, giving a profit of 18%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.