GoHealth Stock Ready to Breakdown?

A key support level has formed in the chart of GoHealth Inc. (GOCO).  If the stock falls under this level, a breakdown could occur…

GoHealth Inc. (GOCO) is a health insurance marketplace in America. Its technology platform leverages modern machine-learning algorithms and helps individuals find the best health insurance plan for their specific needs.

The company is a fairly recent IPO and had a strong 2020 with revenue hitting $445.9 million, up from $163.36 million in the previous quarter. Its marketplace has been able to help seniors choose their healthcare in a Medicare market expected to see strong growth.

While the company’s cash was only $144 million as of December, it was still much higher than its short-term debt of $4 million. Revenue is expected to rise 37.9% this year, while earnings are forecasted to explode by 350%.

Its stock has a low valuation with a forward P/E of 16.21. From a performance standpoint, GOCO has shown positive recent momentum, but is down 15% for the month.

Take a look at the 1-year chart of GOCO below with added notations…

See chart and continue reading at STOCKNEWS.com