Could NIB Holdings Limited See a Reversal After Breaking Its 52-Week High?

 Could NIB Holdings Limited See a Reversal After Breaking Its 52 Week High?

The stock of NIB Holdings Limited (ASX:NHF) hit a new 52-week high and has $6.42 target or 31.00% above today’s $4.90 share price. The 8 months bullish chart indicates low risk for the $2.15B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $6.42 price target is reached, the company will be worth $666.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.03% or $0.05 on November 21, hitting $4.9. About 470,944 shares traded hands or 42.17% up from the average. NIB Holdings Limited (ASX:NHF) has risen 18.93% since April 25, 2016 and is uptrending. It has outperformed by 15.07% the S&P500.

More notable recent NIB Holdings Limited (ASX:NHF) news were published by: Fool.com.Au which released: “Market takes axe to NIB Holdings Limited share price: Here’s why” on August 22, 2016, also Fool.com.Au with their article: “Why the NIB Holdings Limited share price is soaring” published on November 04, 2015, Fool.com.Au published: “Shares in NIB Holdings Limited & Medibank Private Ltd could be about to fall” on November 02, 2016. More interesting news about NIB Holdings Limited (ASX:NHF) were released by: Fool.com.Au and their article: “Why the NIB Holdings Limited and Medibank Private Ltd share prices skyrocketed …” published on April 21, 2016 as well as Fool.com.Au‘s news article titled: “NIB Holdings Limited shares soar 8% on profit result” with publication date: February 22, 2016.

nib holdings limited operates as a private health insurer for Australian residents, New Zealand residents, and international visitors and students to Australia. The company has a market cap of $2.15 billion. The Firm operates through the divisions, including Australian Residents Health Insurance, which operates within the Australian private health insurance industry; New Zealand Residents Health Insurance, which operates within the New Zealand private health insurance industry; International Health Insurance, which include the Company’s health insurance products for international students and workers, World Nomads Group, which is engaged in distribution of travel insurance products, and nib Options, which enables access to cosmetic and dental treatment for both overseas and also in Australia. It has a 23.17 P/E ratio.

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