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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 $247.27 and $247.27 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.

In the past 52 weeks, shares of Humana Inc have traded between a low of $225.65 and a high of $355.88 and are now at $247.27, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.8%.

There is potential upside of 22.8% for shares of Humana Inc based on a current price of $247.27 and an average consensus analyst price target of $303.67. Humana Inc shares should first meet resistance at the 50-day moving average (MA) of $276.00 and find additional resistance at the 200-day MA of $306.19.

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.

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

Keywords: bearish inside day candle humana inc

Ticker(s): HUM