Quest Diagnostics Keeps Slumping, Here’s The Trade
Quest Diagnostics Inc (DGX) is a leading diagnostic testing and information company for the healthcare industry. The stock topped out on May 10th, 2021 at $142.80 a share. Since that high pivot, the stock price has dropped sharply and currently trades around $127.39 a share. The stock now trades below its important 50-day moving average. This puts the stock in a weak technical position on the charts and is signaling a potential downside.
Quest Diagnostics Inc (DGX) stock has excellent support around the $118.00 level. This support area is where the stock broke out to the upside back in March 2021. Often, prior breakout levels will serve as excellent support when initially tested. While the shares still have further to decline before reaching this support area it is worth keeping it on the radar for a solid risk/reward trade level.
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