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Possible Bearish Inside Day Candle Pattern Detected for Ehealth Inc (NASDAQ:EHTH)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ehealth Inc (NASDAQ:EHTH) based on the price action in the company's shares. Today's price range of $62.69 and $62.69 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 Ehealth Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

eHealth, Inc. sells health insurance over the Internet. The Company serves individuals, families, and small businesses.

In the past 52 weeks, Ehealth Inc share prices have been bracketed by a low of $13.61 and a high of $67.44 and are now at $62.69, 361% above that low price. The 200-day and 50-day moving averages have moved 2.12% higher and 2.98% higher over the past week, respectively.

Ehealth Inc (NASDAQ:EHTH) defies analysts with a current price ($62.69) 63.8% above its average consensus price target of $22.67. The stock should discover initial support at its 50-day moving average (MA) of $56.03 and subsequent support at its 200-day MA of $36.10.

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

Keywords: bearish inside day candle ehealth inc

Ticker(s): EHTH