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Cross Country HealthCare Stock Sizzling Monday Performance

by | Jul 12, 2022 | #investorsbusinessdaily, #ibdpartner, #MarketSmith | 0 comments

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Cross Country Healthcare (CCRN), is a professional healthcare staffing service that we were discussing in the trading room today as part of our watchlist for this week.

Cross Country Healthcare Stock

The stock rallied 8.40% on Monday, surging on above average volume (+1.29%), while the markets were printing a bearish price action overall.

The company was added to the Investors Business Daily IBD 50 last Friday and to our watchlist this week. Cross Country Healthcare stock is building the right side of a cup pattern, presently 20% below the breakout pivot at $30.40.

Cross-Country-Healthcare-Stock-Daily-Chart

The company produced a 33% growth rate, following strong quarterly earnings-per-share growth for past three quarters. March (193%), December (637%) and September quarter earnings of (194%). In addition, Cross Country Healthcare stock has posted impressive quarterly sales, gaining 194% in March, 197% in December, and 93% in September.

CCRN has some solid IBD fundamentals; a 98 EPS Rating, a 97 Composite Rating, and a RS line climbing to 97 in the Monday session.

Cross Country Healthcare stock broke above the 200-day moving average on Friday on the MarketSmith chart highlighted below.

Additional Healthcare and Medical Stocks

Pliant Therapeutics (PLRX) finished the day up 159% on very heavy volume, halting trading on Monday morning. The company announced positive data from a Phase IIa clinical trial for its experimental idiopathic pulmonary fibrosis treatment.

RBC Capital Markets upgraded the stock and raised its price target to 54 from 35.

Merck (MRK) closed Monday up (+ 1.64%) as the healthcare and pharmaceutical stock remains strong. The stockis attempting a breakout riding above its 5% buy zone on the MarketSmith daily chart.

Join us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 

Vinny

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