The Ensign Group provided a range of skilled nursing and assisted living services as well as other post-acute healthcare services. The company does business in 13 US states in the South, West, and Mid-West regions. The slowing down of COVID in the US had led to a rise in the demand for healthcare services that Ensign offers. An aging US population is another long-term trend that boosts the future growth prospects of The Ensign Group.

The Long term monthly chart for Ensign shows a decade-long uptrend with prices doubling every two years till about 2014, followed by a period of sideways movement till 2018. Since then, the uptrend has gathered pace while the period from 2020 to mid-2021 has been one of the best. In those last 18 months, the price has risen 3X. The prices peaked at around $97 before pulling back 20% to find support at the $77 level. The reversal has led to the uptrend resuming again, and the likely target is now $97. A minimum stop loss can be placed below the support level and the bottom trend line at around $76.

Position entered into our long-term tracking portfolio today. The entry point is at $85.49, and stop-loss $76.06, which is 11% below the entry point. The short-term to medium-term take profit at the top of the trend is set at $94.88, giving a profit of 11%.