Chart Of The Day: CorVel - Under Followed Buy

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Photo by Jason Briscoe on Unsplash
 

The Chart of the Day belongs to the financial services company CorVel (CRVL). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 3/16 the stock gained 18.52%.

CRVL Price vs Daily Moving Averages

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third-party administrators, insurance companies, and government agencies to assist them in managing medical costs and monitoring the quality of care associated with healthcare claims. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the management of episodes of care and the related healthcare costs. The company offers network solutions services, including automated medical fee auditing, preferred provider management, and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, Medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review. It also provides a range of patient management services, such as claims management, case management, 24/7 nurse triage, utilization management, vocational rehabilitation, and life care planning, as well as the processing of claims for self-insured payors with respect to property and casualty insurance. The company was incorporated in 1987 and is headquartered in Fort Worth, Texas.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
 

Barchart Technical Indicators:

  • 100% technical buy signals
  • 59.70+Weighted Alpha
  • 44.39% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50, and 100-day moving averages
  • 8 new highs and up 11.52% in the last month
  • Relative Strength Index 80.70%
  • The technical support level at 216.04
  • Recently traded at $221.04 with a 50-day moving average of $195.19
     

Fundamental Factors:

  • Market Cap $3.76 billion
  • P/E 57.36

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

  • The individual investors following the stock on Motley Fool voted 53 to 7 for the stock to beat the market with the more experienced investors voting 11 to 1 for the same result
  • Value Line gives it their highest rating of 1
  • CFRAs MarketScope gives it s strong buy rating
  • 1,010 investors monitor the stock on Seeking Alpha

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the ...

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