Acadia Healthcare Company, Inc. develops and operates inpatient
psychiatric facilities, residential treatment centers, group homes, and
substance abuse facilities providing outpatient behavioral healthcare
services to serve the behavioral health and recovery needs of
communities in the United States, the United Kingdom, and Puerto Rico.
Its acute inpatient psychiatric facilities offer evaluation and crisis
stabilization of patients with severe psychiatric diagnoses; specialty
treatment facilities include residential recovery facilities, eating
disorder facilities, and comprehensive treatment centers providing a
comprehensive continuum of care for adults with addictive disorders and
co-occurring mental disorders; and residential treatment centers treat
patients with behavioral disorders in a non-hospital setting, including
outdoor programs.
Take a look at the 1-year chart of Acadia (NASDAQ: ACHC) below with the added notations:
ACHC has been on a nice, consistent rally over the course of the past
year. In addition, the $75 price level (blue) has become very important
to the stock over the past 3 months. Not only was $75 a key resistance
back in May and June, that level was also support once ACHC got above
it. Earlier this week the $75 level was hit as resistance again.
The Tale of the Tape: ACHC has a key level at $75. A
trader could enter a long position on a break above $75 with a stop
placed under the level. However, if traders are bearish on the stock, a
short trade could be made instead at the $75 resistance.
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