HNT Analysis for 11.16.2007

HEALTH NET INC. - HNT

Goldman Sachs upgraded Health Net from Neutral to a Buy today.

Monthly chart shows some selling pressure this month. Current support of $46.97 is right at a key LIS - prior resistance. Uptrend line in place has been violated this month.

Weekly chart shows a head and shoulders reversal pattern in place. This week's price action resulted in a doji candle pattern - showing indecision between buyers and sellers.

The daily chart shows prior support at the $46.97 area is currently holding. However, there is enthusiastic buying evident. IF there is further weakess next week, THEN look for a test of the $37 area low/support. No real buy signal as of yet, despite the upgrade by analyst following the stock.