Humana (HUM) shares jumped in extended trading on Monday after the federal government said it would pay🍬 Med༒icare insurers more next year than previously expected.

The Centers for Medicare & M🦄edicaid Services (CMS) said payments for 2026 澳洲幸运5官方开奖结果体彩网:Medicare Advantage health plans run by private insurers will increase by 5.06% on average, more than the 2.83% the government initially proposed in January. The boosted rates will benefit health insurance giants such ⛦as Humana, which has grappled with rising medical expenses related to government-backed health plans.

Humana shares trade flat since the start of the year as of Monday’s close but have slumped nearly 20% over the past 12 months, weighed down by increasing medical costs, 澳洲幸运5官方开奖结果体彩网:downgraded Medicare offerings, and moderating membership signups. The stock rose 11% to $283.50 🍌in after-hour🦹s trading Monday.

Below, we take a closer look at Humana’s chart and apply 澳洲幸运5官方开奖结果体彩网:technical analysis to identif𝄹y key price le♔vels worth watching out for.

Symmetrical Triangle in Play

Since plumbing their 澳洲幸运5官方开奖结果体彩网:52-week low last October, Humana shares have traded within a 澳洲幸运5官方开奖结果体彩网:symmetrical triangle, a chart pattern indicating a period of 澳洲幸运5官方开奖结果体彩网:consolidation before the price breaks out.

The stock broke down below the pattern in Monday’s trading session before staging an impressive intraday reversal to close above its lower trendline, signaling a bullish shift in investor sentiment.

Indeed, the shares look set to open sharply higher on Tuesday morning, potentially setting the stage for a longer-term upside trend reversal.

Let’s identify three key technical overhead areas on Humana’s chart and also locate an important 澳洲幸运5官方开奖结果体彩网:support level worth monitoring if the stock resumes its established 澳洲幸运5官方开奖结果体彩网:downtrend.

Key Overhead Areas to Watch

A breakout above the symmetrical triangle’s upper trendline could see the shares initially test the psychological $300 area. This level may provide significant overhead resistance near the 澳洲幸运5官方开奖结果体彩网:200-day moving average (MA) and several prominent 澳洲幸运5官方开奖结果体彩网:peaks and troughs on the chart 𒆙stretching back to e♍arly April last year.

The next overhead area to watch sits around $336. Investors who have bought at lower prices may look for 澳洲幸运5官方开奖结果体彩网:profit-taking opportunities in this location near the Mar🌠ch through and April peak.

Further buying in the stock could fuel a move to the $383 area. The share may run into selling pressure in this region near 澳洲幸运5官方开奖结果体彩网:swing highs that formed on the chart in January and September last year. This location also roughly aligns with a measured move upside target that calculates the distance of ✅the symmetrical triangle near its widest point and adds that amount to the pattern’s top trendline.

Important Support Level Worth Monitoring

Finally, If Humana shares resume their long-term downtrend, investors should keep tabs on the $213 level. This area would likely attract significant attention near last year’s October gap low,♛ which also marks the lဣowest point of the symmetrical triangle.

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As of the date this article was written, the author does not own any of the above securities.