AMERIGROUP Corp. (AGP $42.53) is a high-ranked leader in the Medical-HMO group.  AMERIGROUP is focused exclusively on the healthcare needs of individuals who receive benefits under the Medicaid, State Children's Health Insurance Program (SCHIP) and FamilyCare programs. It is a multi-state managed healthcare company headquartered in Virginia, operating health plans in Maryland, Texas, New Jersey, Florida, Illinois and the District of Columbia.

After finding support right at its 50-day moving average (the blue line) on 8/29/03, AGP gained ground on a couple of above average volume days.  It just managed a new high close, ending the session just 4 cents above the 7/29/03 close (see green line).  It would be a more convincing sign of institutional buying if there were to be new highs on heavier than normal  volume.  Volume should be at least 150% of the average as a good guideline for a more reliable breakout.     

A look at AMERIGROUP's sales revenue comparisons for the past eight quarterly financial reports tells an impressive fundamental growth story.  In them, the company's sales revenues have improved in the 23% to 44% range when compared with the year earlier.  Earnings growth has been strong, as IBD ranks it in the  top 5% of the entire spectrum of public companies tracked. 

Be watching some of the other healthcare leaders including Humana Inc. (HUM) and Coventry Healthcare (CVH), and expect the action in them, and of course, the broader market to have a lot of influence. 

Shares Outstanding - 20.7 Million  | 50-Day Avg Vol - 201,000
Prior 4 Quarterly earnings % Changes: -2%;+10%;+34%;+37%

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