Long Position on ENSG @ $45.80 on 7/22/2020 (Fundamentals)

The Ensign Group, Inc. (ENSG) provides health care services in the post-acute care continuum and other ancillary businesses.

The company offers transitional and skilled services, which include short and long-term nursing care services for patients with chronic conditions, prolonged illness, and the elderly.

It also provides standard services, such as room and board, special nutritional program, social, recreational, entertainment, and other services.

In addition, the company offers senior living, as well as mobile diagnostics services; leases real estate properties; and provides other ancillary services consisting of digital x-ray, ultrasound, electrocardiogram, laboratory, sub-acute, and patient transportation services to people in their homes or at long-term care facilities.

As of December 31, 2019, it operated 223 skilled nursing and senior living facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas, Massachusetts, Nebraska, Nevada, South Carolina, Texas, Utah, Washington, and Wisconsin. 

This stock has reported strong earnings for the last quarter and is trending closely to its 50-day moving average, suggesting shares should move higher out of its "bullish cup and handle".

Entry point: $45.80

52-week trade range: $24.06 - $58.93

Stop/Loss: $43.35

Target Price: $50.50

Updates

8/6/2020 9:35:35 AM

ENSG closed at $54.70

Position closed on 8/6/2020 at price of $54.70 with a 19.43% gain in 15 days.

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