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Possible Bearish Inside Day Candle Pattern Detected for Anthem Inc (NYSE:ANTM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Anthem Inc (NYSE:ANTM) based on the price action in the company's shares. Yesterday's price range of $285.08 and $289.53 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Anthem Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Anthem Inc. is a health benefits company. The Company provides health, dental and vision, and pharmacy benefits, as well as life insurance, and life and disability insurance benefits. Anthem offers a broad spectrum of network-based managed care plans to large and small employer, individual, medicaid, and medicare markets.

Based on a current price of $287.37, Anthem Inc is currently 4.1% above its average consensus analyst price target of $275.67. Anthem Inc shares have support at the 50-day moving average (MA) of $271.98 and additional support at the 200-day MA of $246.86.

In the past 52 weeks, shares of Anthem Inc have traded between a low of $213.17 and a high of $290.84 and closed yesterday at $287.37, which is 35% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.39% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Anthem Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Anthem Inc in search of a potential trend change.

Keywords: bearish am inside day candle anthem inc

Ticker(s): ANTM