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Possible Bullish Inside Day Candle Pattern Detected for Molina Healthcar (NYSE:MOH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Molina Healthcar (NYSE:MOH) based on the price action in the company's shares. Yesterday's price range of $130.09 and $131.98 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 Molina Healthcar may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Molina Healthcar (NYSE:MOH) is currently priced 30.5% above its average consensus analyst price target of $91.78. The stock should hit resistance at its 50-day moving average (MA) of $139.07, as well as support at its 200-day MA of $131.55.

Molina Healthcare Inc. is a managed care organization. The Company arranges for the delivery of health care services to persons eligible for Medicaid and other programs for low-income families and individuals. Molina Healthcare has health plans in California, Washington, Utah, and Michigan, as well as primary care clinics located in Northern and Southern California.

In the past 52 weeks, shares of Molina Healthcar have traded between a low of $80.12 and a high of $154.06 and closed yesterday at $131.98, which is 65% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Molina Healthcar on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $124.37. Since that recommendation, shares of Molina Healthcar have risen 4.0%. We continue to monitor MOH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle molina healthcar

Ticker(s): MOH