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Concerned about aging? Start investing in Addus now!The aging U.S. population is set to double by 2050, increasing the need for caregivers. Addus HomeCare Corporation, based in Frisco, Texas, provides essential personal care, hospice, and home health services. With a market cap of $2.35 billion, Addus reported $1.115 billion in revenue in June 2024, with a 27% profit increase. The company is debt-free and has major shareholders like Blackrock and The Vanguard Group. EPS is forecasted to grow significantly by December 2025. With a growing need for home healthcare services, the company is well-positioned to expand its customer base and market presence. Company Overview Addus HomeCare Corporation and its subsidiaries offer personal care services for the elderly, disabled, and those at risk of hospitalization in the U.S. It operates in three areas: Personal Care, Hospice, and Home Health. The Personal Care segment helps with daily activities like bathing, grooming, and meal preparation. The Hospice segment provides care and support for terminally ill patients and their families. The Home Health segment delivers skilled nursing and therapy services for those recovering from illness or hospitalization. Its clients include government agencies, managed care organizations, insurers, and private individuals. Founded in 1979, Addus is based in Frisco, Texas. Investment Advice by Naranj Capital Buy Addus Homecare Corporation NASDAQ:ADUS ● Buy Range- 120 - 125 ● Target- 150 - 160 ● Potential Return- 25-30% ● Duration- 10 -12 Months Market Capitalization - $ 2.35B Sector - Healthcare (Nursing) Technical Analysis ● The monthly chart indicates a clear upward trend in prices. ● Earlier, the stock peaked near the 129 (128.8 to be precise) level before experiencing a correction, which was subsequently followed by an elongated consolidation period from November 2020 to July 2024. ● Recently, the stock has successfully made a multi-year breakout of the previous resistance zone and has maintained its position above this breakout level. ● We expect this momentum to persist, leading to further price increases in the days ahead. Entry, Exit & Stop-loss ● Entry with Capital allocation strategy (1) consider adding 50% of your desired quantity at the current market price (132 - 133). (2) The second buying opportunity will be in the 120 - 122 range, where you can also add rest 50% of your quantity. ● Target Chart analysis indicates a promising upside potential of 25-30% for this stock from the best buying level, with a target around the 155 to 160. There is also a strong likelihood that the stock could exceed this target. ● Stoploss It is crucial to implement a strict stop-loss below the 115 level, as we anticipate that the stock may encounter challenges if it drops to this point. Revenue Breakdown The company generates its revenue through three primary segments. (1) The personal care sector represents around 74.2% of the overall revenue, totaling $827 million out of $1.11 billion. (2) Meanwhile, hospice services contribute nearly 19.7%, amounting to $219.8 million of the total revenue. (3) The home health segment accounts for approximately 6.1%, which translates to $67.8 million of the overall revenue. Sales & Profit Analysis ● A noticeable rise in revenue has been observed. For the June quarter, revenue reached $1.115 billion, marking an 11.6% increase from $999 million in June 2023 (YoY) and a 2.5% rise from $1.08 billion in March 2024 (QoQ). ● Additionally, profits surged by 27% in the latest quarter, climbing to $68.89 million from $53.83 million in the same quarter last year, and up 5% from $65.67 million in March 2024. ● The profit margin has also improved, increasing from 5.4% to 6.2% year-on-year. ● The basic EPS for the June 2024 quarter is reported at 4.28, marking a significant increase of 27% from 3.37 in the same quarter last year. Peer Companies (1) Privia Health Group (NASDAQ: PRVA) - $ 2.41B NASDAQ:PRVA (2) Amedisys (NASDAQ: AMED) - $ 3.21B NASDAQ:AMED (3) Astrana Health (NASDAQ: ASTH) - $ 2.33B NASDAQ:ASTH Valuation ● P/E vs Fair P/E Ratio ➖ The current PE ratio stands at 34.1x, slightly expensive to the estimated Fair PE of 28.7x. ● P/E Ratio vs Peers ➖ ADUS offers great value with a Price-To-Earnings Ratio of 34.1x, significantly lower than the peer average of 62.7x. ● P/E Ratio vs Industry P/E ➖ ADUS seems to come at a higher price, boasting a Price-To-Earnings Ratio of 34.1x, notably surpassing the US Healthcare industry average of 26.2x. Debt Analysis ➖ ADUS stands proudly as a debt-free entity, a remarkable transformation from five years ago when its debt to equity ratio stood at 12.9%. This significant shift underscores the company's commitment to financial health and stability. Top Shareholders ● Blackrock currently holds a substantial 16% stake in this stock, reflecting an impressive increase of 11.2% since the March quarter. ● Meanwhile, The Vanguard Group has also boosted its investment, raising its stake by 8.5% from the previous quarter, bringing their total holding to 7.74%. Earnings per Share Growth Forecasts Experts forecast that the earnings per share (EPS) could increase from $4.28 to $4.51 by December 2024, and further rise to $5.03 by December 2025. Conclusion With the growing need for home healthcare services, the company is well-positioned to broaden its customer base and enhance its market presence.
NASDAQ:ADUSLong
by NaranjCapital
1
Apple is a great buy once it exceeds 240! The stock experienced an extended period of consolidation, during which it formed several bullish chart patterns, including the Double Bottom and Rounding Bottom. After the price broke above the neckline of the Rounding Bottom, the stock surged to reach an all-time high close to the 237 level. Since then, it has retraced nearly 17%-18%, returned to its support level. Now, with a robust rebound underway, the stock is approaching its resistance zone, and there are strong expectations for a significant breakout. The optimal buying opportunity lies just above the 240 level.
NASDAQ:AAPLLong
by NaranjCapital
25
Resistance is ahead! Can the Dow Jones make a break through? The index is clearly demonstrating a strong upward trend, consistently achieving higher highs and higher lows. During this upward movement, it previously established a bullish Pole & Flag pattern, and after breaking out, the index has continued to rise. At present, the index is trading just beneath its next resistance level. If the Dow Jones manage to break through and hold above this breakout point, it is likely to initiate a new rally.
BLACKBULL:US30Long
by NaranjCapital
Burlington Stores is set for significant upward movement. After the market crash in March 2020, the stock price stabilized around the 110 level and began to rise. This upswing drove the price to an impressive high near 350, reaching an all-time peak. During this phase, a Rising Wedge pattern formed, and following a subsequent breakdown, the stock underwent a significant correction, returned to its previous support level. Subsequently, the stock made a strong recovery, climbing to around 250 before encountering resistance. After a notable decline, it found support once more near 115. Another rebound occurred, leading the price to a recent breakthrough above previous resistance levels. It is anticipated that this momentum will persist, leading the stock to achieve new highs in the near future.
NYSE:BURLLong
by NaranjCapital
Is this a SELL SIGNAL for S&P 500 this week???Technical speaking, we have predicted that last week, the s&p 500 might started to rebound, since we've seen three to four bearish candles before trend reversal in the past pullbacks, and last week was the forth candle of this pullback. And it just moved as we've predicted. And for now, the price is still rebounding from overall bearish market. So this week, we might pay close attention to the ending signal of this rebound, for example, the price be rejected by the resistance of previous low. Key macroeconomic dates include the U.S. releasing the July PPI on August 13, the July CPI on August 14, and the so-called "dreaded" July retail sales data on August 15. Also, Japan will release its Q2 GDP, likely stirring the pot again with yen carry trades. In political news, the latest Financial Times poll shows Harris with a 1% lead over Trump in the presidential race. I think from economic reports to the election, all could drive more volatility in U.S. stocks. Investors should keep a close eye on market movements and manage their risks accordingly.
SP:SPXShort
by xugina78
TKO is poised for a major multi-year breakthrough!Weekly Chart The 100 level has shown to be a significant resistance point for the stock, as it faced multiple rejections at this level. Following these rejections, the stock entered a significant consolidation phase, which led to the formation of a Symmetrical Triangle pattern. After breaking out of this formation, the stock price soared, reaching a peak around the 117 level before experiencing a decline. However, the stock found support at the 200 WEMA and rebounded from that level.. At present, the stock is lingering near the resistance zone, and with an increase in trading volume, there is a strong expectation that it will achieve a breakout this time around. The appearance of an Inverted Head & Shoulders pattern on the weekly chart indicates a bullish sentiment. Daily Chart The daily chart shows that after being rejected near the 117 level, the stock fell but then reversed by breaking above the double bottom pattern. Since then, the stock has maintained its upward trend and is now close to a major breakout. The rising volume indicates that the price is preparing for an upward move.
NYSE:TKOLong
by NaranjCapital
2
US OIL SHOWING A GOOD FALL WITH 1:10 RISK REWARDUS OIL SETUP TRADE WIH 1:10 RISK REWARD A good selling setup detected on US OIL It's showing a BEAR MOVE due to these reason 1. It's following THE 60 M trendline here 2. It's ready to break the neckline 3. In day chat it's showing the heavy bullish pressure Just grab out will your own risk With a small amount Stay connected Stay happy Bande mataram BITCOIN SETUP TRADE WIH 1:10 RISK REWARD A good selling setup detected on US OIL It's showing a BEAR MOVE due to these reason 1. It's following THE 60 M trendline here 2. It's ready to break the neckline 3. In day chat it's showing the heavy bullish pressure Just grab out will your own risk With a small amount Stay connected Stay happy Bande mataram
FX:USOILSPOTShort
by tradergyan01
ALNY, LTH & ZETA - The momentum may drive prices to new heights!Alnylam Pharmaceuticals The stock price has encountered several rejections around the 212 level, leading to subsequent corrections. After establishing a Double Bottom pattern, the price attempted to reverse the downward trend but was unable to do so, facing rejection at the 200 level. Consequently, the stock underwent another correction. Following this, the price entered a consolidation phase, forming a Box pattern for a while. In a surprising turn, the price gapped up significantly and broke through its former strong resistance area, remaining above it. Following a brief pullback, the price resumed its upward trajectory, supported by solid trading volume. Life Time Group Holdings Following a rejection around the 22.5 level in November 2021, the stock experienced a significant decline, dropping to just 8.75. Subsequently, the price began to rise again, eventually returning to its previous strong resistance level after a lengthy climb. However, it struggled to break through that barrier and faced another substantial drop. During this downturn, the stock hit a low around 11.3 and then navigated through numerous fluctuations, leading to the formation of a Symmetrical Triangle pattern on the chart. After successfully breaking out of this pattern to the upside, the price surged and managed to overcome the resistance level. If the stock can hold onto this level, we might see even more upward momentum in the days ahead. Zeta Global Holdings The stock price had been consolidating within a Box Pattern before breaking free. Since that breakout, the stock has experienced a steady uptrend, marked by higher highs and higher lows. Amid this upward movement, a Cup & Handle pattern formed, signaling that the trend is likely to persist. Following the breakout, the price is now climbing higher, supported by a significant increase in trading volume.
NASDAQ:ALNYLong
by NaranjCapital
U.S. Stocks' foreseeable goalsThe most important index for the reflection of the American Stocks market is the SP:SPX , so let's start with it. Unfortunately, now the chart of this index is not rich in models, so the current logic of movements in our opinion is described by the EXP model from July 30 on the daily timeframe👇 As long as the price is below the 4-point level (5 390.95), the target levels are 100% (5 125.93) and 200% (4 873.94). In case the price returns above the level of 4 point and goes beyond the trend line, there will be a second attempt to reach the target resistance level of 5 582.31 - the formally reached target of the impulse of August 1. It is necessary to mention that this pattern, despite being on the daily timeframe - is weak. In addition, let's look at a chart of the NASDAQ:NDX - this index includes the 100 largest non-financial companies traded on the Nasdaq exchange, primarily technology stocks. Consideration of this index is additionally interesting because most institutional managers consider BINANCE:BTCUSDT to be in the technology sector, so NASDAQ:NDX and BINANCE:BTCUSDT is often correlated. First, let's look at the AMEXP model that formed in mid-March 2023 on the weekly timeframe and described the entire uptrend within the 2023-2024 period on this index👇 In this model we are primarily interested in the level of HP (18 289.68), currently acting as an extreme support on the weekly timeframe, and if the price can consolidate under this level, the next support will be the level of 100% (15 891.73). More locally, on the daily timeframe, the current movement is described by the EXP model from July 24, where the price has already reached the first target level of 100% (18 355.48)👇 It is very interesting that now on NASDAQ:NDX the price has settled in the zone of 18 355.45-18 289.68 formed by 100% and HP levels and if we don't see a rebound soon and the price tries to consolidate under this zone, the next target level will be 17 296.42. By the way, we do not exclude that the movement towards 17,296.42 will be accompanied by an attempt of CME:BTC1! to close the CME GEP at the level of $57,805👇
NASDAQ:NDXShort
by TSFC
The US index has been declining for three weeks. What's ahead?S&P 500 After the Cup & Handle pattern breakout, the market surged to nearly 5,670, setting a new record high. Since then, the index has been on a downward trend for the last three weeks, forming the Three Black Crows chart pattern, signaling a bearish outlook. With the current market conditions, it is expected that potential support will be around the 4,400-4,500 level. Nasdaq 100 The US tech index has experienced a significant increase in momentum and achieved a respectable gain over the last 8-9 months. However, the index encountered a strong resistance near the 20,700 level, which is its all-time high. With three consecutive weeks of decline, the index appears to be in a weakened state and may revisit the 15,500-15,600 level for support before rebounding.
SP:SPX
by NaranjCapital
BKR & ED: Keep an eye for multiyear breakoutBaker Hughes Company The stock was earlier caught in a prolonged consolidation phase, during which it established an Inverted Head & Shoulder pattern. After the breakout, the price experienced a sharp rise but underwent a correction following the formation of a Double Bottom pattern. Subsequently, the stock entered another period of consolidation, gradually trending upwards. During this time, an Ascending Triangle pattern formed, and the price has recently achieved a successful breakout. If it maintains its position above the breakout level, the uptrend is expected to persist. Consolidated Edison In the weekly chart, the price initially moved downwards and created a Falling Wedge pattern. Typically, when this pattern emerges, the price surges higher following the breakout. In this case, the price indeed soared to its record high around the 102 mark post-breakout. However, the stock couldn't sustain the upward momentum and swiftly dropped from the all-time peak. Subsequently, a consolidation phase began, with the price consistently finding support at the 200 EMA. At present, the price is poised for a breakout, potentially leading to an upward rally upon confirmation.
NASDAQ:BKRLong
by NaranjCapital
4
US Banks & Financial Sectors are ready for another fabulous riseNasdaq Banks The bank index has been on a rollercoaster ride, witnessing numerous price fluctuations. Following the breakout of the double bottom pattern, the index surged and formed a Rising Wedge pattern. However, once the pattern broke downwards, the bank index experienced a significant decline. Upon hitting a support level around 2,650, the index established a Double Bottom pattern, signaling a potential trend reversal. Subsequent to the breakout above the neckline, the bank index began consolidating within a tight range. Most recently, another breakout has occurred, setting the stage for a potential upward rally. S&P 500 Financials After the market crash in 2020, the index fell into an oversold zone and stayed in a period of consolidation within an Ascending Triangle formation. Following this breakout, the financial index experienced a strong rally to the upside. However, it struggled to break above the 700 level and began to decline. Subsequently, the index went through a lengthy consolidation inside a Box formation. After another breakthrough, the index surged once more and created a bullish Pole & Flag pattern. With a recent breakout, the financial index is poised for another upswing.
NASDAQ:BANKLong
by NaranjCapital
Nasdaq & RTX Charts Suggest Promising Growth AheadNASDAQ After a powerful uptrend, the stock encountered a significant resistance around the 72 level and plummeted sharply thereafter. Finding stability near the 47 level, the price surged within a Rising Wedge formation. Typically, following the appearance of this pattern, a decline occurs post-breakout. This scenario unfolded exactly as expected. Subsequently, the stock price consolidated and established an Inverted Head & Shoulders pattern, signaling a potential reversal in trend. With two successive breakouts, the stock is currently advancing with strong volume backing. RTX We have observed a period of price consolidation within a Symmetrical Triangle pattern in the past. After the breakout, there was a noticeable price surge, propelling the stock to reach its previous all-time high. However, the stock faced a significant rejection at that level, leading to another consolidation phase and the formation of a symmetrical triangle pattern. Once the pattern broke down, the price dropped back to its previous support zone. Since then, the stock has been steadily moving upwards and recently experienced a strong breakout, surpassing its previous resistance level. At present, the stock is trading at a new all-time high and is anticipated to continue moving even higher.
NASDAQ:NDAQLong
by NaranjCapital