WellPoint, Inc., a health benefits company, through its subsidiaries,
offers network-based managed care plans to large and small employer,
individual, Medicaid, and senior markets in the United States. The
company operates through three segments: Commercial, Consumer, and
Other. Its managed care plans include preferred provider organizations,
health maintenance organizations, point-of-service plans, traditional
indemnity plans, and other hybrid plans, including consumer-driven
health plans, and hospital only and limited benefit products. The
company also provides various managed care services comprising claims
processing, underwriting, stop loss insurance, actuarial services,
provider network access, medical cost management, disease management,
wellness programs, and other administrative services to self-funded
customers. In addition, it offers specialty and other insurance products
and services, including behavioral health benefit services; dental,
vision, life, and disability insurance benefits; radiology benefit
management; analytics-driven personal health care guidance; and
long-term care insurance.
To review WellPoint's stock, please take a look at the 1-year chart of WLP (WellPoint, Inc.) below with my added notations:
WLP has formed a solid resistance at $90 (navy), which would also be a
52-week high breakout if the stock could manage to break above it. In
addition, the stock has been climbing a trendline of support (blue).
These two levels combined have WLP sandwiched within a common chart
pattern known as an ascending triangle. At some point, the stock will
eventually have to break one of those two levels.
The Tale of the Tape: WLP has an up trending support
and a 52-week resistance level to watch. A long trade could be made on a
breakout above the $90 resistance or on a pullback to the support,
which is approaching $85. A break below the up trending support could be
an opportunity to enter a short trade.
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