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Possible Bullish Inside Day Candle Pattern Detected for Evolent Health-A (NYSE:EVH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Evolent Health-A (NYSE:EVH) based on the price action in the company's shares. Yesterday's price range of $7.15 and $7.47 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 Evolent Health-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Evolent Health-A (NYSE:EVH) has potential upside of 232.7% based on a current price of $7.33 and analysts' consensus price target of $24.40. Evolent Health-A shares should first meet resistance at the 50-day moving average (MA) of $8.14 and find additional resistance at the 200-day MA of $9.46.

Evolent Health, Inc. provides a purpose-built platform, powered by our technology, proprietary processes and integrated services, enables providers to migrate their economic orientation from fee-for-service, and FFS, reimbursement to payment models that reward high-quality and cost-effective care, and value-based payment models.

In the past 52 weeks, Evolent Health-A share prices have been bracketed by a low of $5.50 and a high of $21.73 and closed yesterday at $7.33, 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 1.1%.

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

Keywords: bullish am inside day candle evolent health-a

Ticker(s): EVH