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

By Nick Russo

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 $267.07 and $269.34 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.

There is potential upside of 2.9% for shares of Anthem Inc based on a current price of $267.88 and an average consensus analyst price target of $275.67. The stock should find initial resistance at its 200-day moving average (MA) of $281.69 and further resistance at its 50-day MA of $289.26.

In the past 52 weeks, shares of Anthem Inc have traded between a low of $228.48 and a high of $317.99 and closed yesterday at $267.88, which is 17% above that low price. The 200-day and 50-day moving averages have moved 0.02% higher and 0.14% lower over the past week, respectively.

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

Keywords: bullish am inside day candle anthem inc

Ticker(s): ANTM