$LH - Hitting New All Time Highs!

We have been long invested in Labcorp for quite some time but we previously alerted and mentioned this stock when it was under $220 on 01/12/2021. As we predicted using a combination of technical analysis and fundamentals - the stock has brokeout to all time highs as we suggested it would. Labcorp released earnings last week and beat all analyst expectations. You can read more about the full earnings report here . Some key highlights were: -35 million Covid-19 PCR tests run in 2020

- Full year 2020 revenue of $14 billion

-Adjusted EPS of $23.94

-Free cash flow of $1.8 billion Moving forward we are watching this increasing wedge build support over $220/225/230 and now $240. If support can sustain closing prices over $240, we are expecting a breakout to the upside toward $250-260 (where most analysts price targets are currently). Otherwise we will continue to hold during any consolidation backtest of previous resistance levels as support and add to our positions near $225/220/215/210. Labcorp continues to be strong and long term we have a $300+ Price Target for an investment as long as price holds over $200 at all times. We never do know but the possibility for a stock split may come about if the stocks can break $300 in the next few years.




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