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Possible Bullish Inside Day Candle Pattern Detected for Anthem Inc (NYSE:ANTM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Anthem Inc (NYSE:ANTM) based on the price action in the company's shares. Yesterday's price range of $302.67 and $302.67 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 Anthem 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.

In the past 52 weeks, Anthem Inc share prices have been bracketed by a low of $228.48 and a high of $317.99 and closed yesterday at $300.87, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

Based on a current price of $300.87, Anthem Inc is currently 8.4% above its average consensus analyst price target of $275.67. The stock should find initial support at its 50-day moving average (MA) of $285.48 and further support at its 200-day MA of $274.95.

Anthem Inc. operates as a health benefits company. The Company provides health, dental and vision, and pharmacy benefits, as well as life insurance, and life and disability insurance benefits. Anthem offers a broad spectrum of network-based managed care plans to large and small employer, individual, medicaid, and medicare markets.

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

Keywords: bullish am inside day candle anthem inc

Ticker(s): ANTM