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Possible Bearish Inside Day Candle Pattern Detected for Humana Inc (NYSE:HUM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Humana Inc (NYSE:HUM) based on the price action in the company's shares. Today's price range of $257.86 and $257.86 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 Humana Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Humana Inc. is a managed health care company with medical members located in the United States and Puerto Rico. The Company offers coordinated health care through health maintenance organizations, preferred provider organizations, point-of-service plans, and administrative services products. Humana offers its products to employer groups, government-sponsored plans, and individuals.

Potential upside of 17.8% exists for Humana Inc, based on a current level of $257.86 and analysts' average consensus price target of $303.67. Humana Inc shares should first meet resistance at the 50-day moving average (MA) of $258.05 and find additional resistance at the 200-day MA of $299.08.

Over the past year, Humana Inc has traded in a range of $225.65 to $355.88 and is now at $257.86, 14% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.3%.

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

Keywords: bearish inside day candle humana inc

Ticker(s): HUM