|With a second four-year Presidential term for President Barack Obama, all the faults that Obamacare brought into public view over the last four years, faults that Mitt Romney in his campaign speeches highlighted, will be looked at carefully and corrected. The last thing President Obama wants is the scrapping of Obamacare, should the Democrats lose the Presidential election in 2016. Caution therefore prevails.|
|FIGURE 1: WCG, DAILY|
|Graphic provided by: OmniTrader.|
|Figure 1 shows that a buy signal has not been given by the vote line. However, looking at both relative strength index (RSI) indicators -- the RSI four-period and the RSI 10-period -- both show a diversified buy signal on the cards. The share price has also not given a JM internal band indicator buy signal, crossing above the upper band, but the share price is above the 15-period simple moving average. A JM internal band indicator is a 15-period simple moving average offset by 2% positive and 2% negative. Note that the strategy red-green long stop is in buy mode and has not stopped out, as have all the other strategies.|
|FIGURE 2: WCG, DAILY|
|Graphic provided by: AdvancedGET.|
|Figure 2 shows an Elliott wave count suggesting that the share price is completing an ABC correction. The stochastic 8,10,5 is suggesting a buy signal. The share price should then start moving upward in a wave 1.|
I would not be a buyer of Wellcare Health Plans (WCG) at the moment. I would wait for the hype of the Presidential election to settle and look at the share price again over the next few days, waiting for a good entry point on bid.
|Address:||3256 West 24th Ave|
|Phone # for sales:||6042634214|
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