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

By Nick Russo

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. Yesterday's price range of $265.13 and $267.79 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 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.

In the past 52 weeks, shares of Humana Inc have traded between a low of $225.65 and a high of $355.88 and closed yesterday at $267.28, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.

Humana Inc has overhead space with shares priced $267.28, or 12.0% below the average consensus analyst price target of $303.67. The stock should hit resistance at its 200-day moving average (MA) of $291.53, as well as support at its 50-day MA of $249.93.

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 am inside day candle humana inc

Ticker(s): HUM