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

By James Quinn

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. Today's price range of $248.91 and $248.91 is within yesterday'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.

Anthem Inc share prices have moved between a 52-week high of $317.99 and a 52-week low of $219.96 and are now trading 13% above that low price at $248.91 per share. The 200-day and 50-day moving averages have moved 0.03% higher and 0.8% lower over the past week, respectively.

Anthem Inc (NYSE:ANTM) has potential upside of 10.7% based on a current price of $248.91 and analysts' consensus price target of $275.67. The stock should run into initial resistance at its 200-day moving average (MA) of $274.63 and subsequent resistance at its 50-day MA of $291.93.

SmarTrend is tracking the current trend status for Anthem Inc and will alert subscribers who have ANTM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle anthem inc

Ticker(s): ANTM