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Possible Bullish Inside Day Candle Pattern Detected for Aetna Inc (NYSE:AET)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Aetna Inc (NYSE:AET) based on the price action in the company's shares. Yesterday's price range of $204.12 and $206.33 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. Traders and investors interested in shares of Aetna Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Aetna Inc has traded in a range of $166.88 to $210.90 and closed yesterday at $204.30, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

Aetna Inc (NYSE:AET) is currently priced 1.4% above its average consensus analyst price target of $201.38. The stock should discover initial support at its 50-day moving average (MA) of $202.90 and subsequent support at its 200-day MA of $187.74.

Aetna Inc. is a diversified health care benefits company that provides healthcare and related benefits, serving health care members, dental members, and group insurance customers. The Company offers medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for medicaid plans.

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

Keywords: bullish am inside day candle aetna inc

Ticker(s): AET