Laboratory Corp of America Holdings (LH)

[aCryptoKing]

Institutional ownership here has buys kinda DOW-tied. This stock dropping BELOW that 200DMA would likely have a SERIOUS DOW TEST lower!

I know, I accidentally had an order in @ $167.00 when it dropped on the 27th. I went to put an ORDER just at or slightly above the 200DMA that day & realized I had a 300 share limit order in there from the 21st that was executing.

If the stock had the KIND OF WEAKNESS you're suggesting it would have TESTED that 200DMA right then & there! And TECHNICALLY it kinda should have...

The DOW performance on this MOSTLY institutionally-owned STOCK is KEY here imv,... If the DOW stays sideways or moves higher I don't see LH taking a dive UNLESS some directly negative news event happens.

Everything is tailwind right now with CORONAVIRUS ramp-up, with country getting back to normal, with economy re-opening, travel coming back, the advances in telemed, the NEW Medable deal, etc., etc., etc..
https://finance.yahoo.com/news/labcorp-partners-medable-expand-technology-132901628.html


By next Q, there's talk LH may even GET AHEAD of U.S. corporate & announce a dividend. It'd SHOCK the market & shoot LH into the $220 range for sure imho. But even without that they should be doing well enough to see $200 test into Q3 before long. I think there's a BETTER SHOT @ a $200 test than that $120 or whatever you were hoping to buy here... I just don't see it falling that far without some SERIOUS issue or market-wide event/pressure.