The Clover Health share price is up this Friday as investor demand on the stock continues to rise. The Medicare insurance provider is expanding its corporate social responsibility activity in communities featuring its target market, recently sponsoring an event for the elderly in Nashville, Tennessee.
The company sponsored the Expo4Seniors’ Senior Expo 2021, which was an event that provided an avenue for seniors, their family members and caregivers to interact with companies offering services in the health and wellness area, specifically targeting the ageing population. The event was held on Thursday, 14 October and received good media attention and public participation.
Clover Health is a next-generation insurer, using its Clover Assistant software to provide affordable and open network plans under its Medicare Advantage insurance for the elderly population. The
Clover Health share price is up 0.87% as of writing and looks set to close out the week with strong gains.
Thursday’s price surge came off a bounce on the 8.03 support after recent price action scaled that area. The stock looks set to open slightly higher on Friday and will target the 8.85 resistance if the advance continues. Above this level, 9.94 serves as an additional northbound target. A clearance of this resistance and the 11.00 psychological resistance satisfies the conditions for a bullish reversal, opening the door for further recovery.
On the other hand, a price decline towards 7.56 only occurs if the bulls fail to defend 8.03. This move could also clear the pathway for 7.13 and 6.49 to become additional targets to the south. This outlook is satisfied if the recent surge is seen as an opportunity for rally-selling, given the current downtrend in the stock.
This post was last modified on Oct 15, 2021, 14:13 BST 14:13