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US Technical Analysis Report

One NYSE– Listed Healthcare Stock Poised for Upside as Russell 3000 Edged Lower– OSCR

May 31, 2024

OSCR:NYSE
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (US$)

Company Overview:  Oscar Health, Inc. (NYSE: OSCR) is a health insurance company, which has built a full stack technology platform focused on serving its members. It offers individual and family, and small group plans, and +Oscar, its full stack technology platform, to others within the provider and payor space. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a negative note and continued the momentum. The index made low of 2979.739 during the week and settled at 2987.277 with a week-to-date (WTD) loss of ~1.301 percent on May 30, 2024Other major indices, such as S&P 500 and NASDAQ Composite displayed downside move for the week. On May 30, 2024, the S&P 500 index settled at 5235.47 with a WTD loss of ~1.31 percent, while the NASDAQ Composite Index settled at 16737 with a WTD loss of ~1.086 percent. 

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one NYSE-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Oscar Health, Inc. (NYSE: OSCR) for the next 2-4 weeks duration: 

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Disclaimer-

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.