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Byline: Jonah Keri
Coventry Health Care bent but didn't break in recent weeks, briefly slicing its 200-day moving average before bouncing back. It's now working on the right side of a seven-week base, 12% off its high.
The managed health care provider has surfed the rising tide of HMO demand. The group tops the list of 197 industries tracked by IBD, and has manned a spot in the top 10 for at least the last nine weeks.
Quarterly sales growth has held firm at 13% the last three quarters, down from prior levels of about 20%. Annual sales have jumped 20% and 21% the last two years.
Quarterly profit has flashed ...