MAXIMUS, Inc. (NYSE: MMS)

MAXIMUS, Inc. provides business process services to government health and human services agencies in the United States, Australia, Canada, the United Kingdom, and Saudi Arabia. The company operates through two segments, Health Services and Human Services. The Health Services segment provides various business process services, as well as related consulting services for state, provincial, and national government programs, including Medicaid, Children's Health Insurance Program, Supplemental Nutrition Assistance Program, Medicare, the Affordable Care Act, Health Insurance British Columbia, and the Health and Work Program. The Human Services segment provides national, state, and county human services agencies with various business process services and related consulting services for welfare-to-work, child support, higher education, and K-12 special education programs, as well as offers program consulting, and tax credit and employer services.

Take a look at the 1-year chart of Maximus (NYSE: MMS) below with my added notations:

MMS has formed a clear support at $65 (green). In addition, the stock is declining against a short-term, down trending resistance level (red) over the last couple of weeks. These two levels combined have MMS stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those levels.

The Tale of the Tape: MMS has a down trending resistance and a $65 support level to watch. A long trade could be made on a breakout through the resistance or on a pullback to $65. A break below the $65 support would be an opportunity to enter a short trade.
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