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Possible Bullish Inside Day Candle Pattern Detected for Lhc Group Inc (NASDAQ:LHCG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lhc Group Inc (NASDAQ:LHCG) based on the price action in the company's shares. Yesterday's price range of $107.07 and $109.22 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 Lhc Group 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.

LHC Group Inc. provides post-acute healthcare services primarily to medicare beneficiaries in rural markets in the southern United States. The Company provides home-based services through home nursing agencies and hospices and facility-based services through long-term acute care hospitals and outpatient rehabilitation clinics.

Over the past year, Lhc Group Inc has traded in a range of $58.65 to $112.22 and closed yesterday at $108.46, 85% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.5%.

Lhc Group Inc (NASDAQ:LHCG) defies analysts with a current price ($108.46) 24.7% above its average consensus price target of $81.67. Lhc Group Inc shares have support at the 50-day moving average (MA) of $100.79 and additional support at the 200-day MA of $91.96.

SmarTrend recommended that subscribers consider buying shares of Lhc Group Inc on January 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.67. Since that recommendation, shares of Lhc Group Inc have risen 9.4%. We continue to monitor LHCG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle lhc group inc

Ticker(s): LHCG