• Return to Headlines

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

By David Diaz

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 $114.66 and $117.93 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) defies analysts with a current price ($114.96) 20.2% above its average consensus price target of $91.78. The stock should find initial resistance at its 50-day moving average (MA) of $132.49 and further resistance at its 200-day MA of $134.23.

Molina Healthcare, Inc., a multi-state healthcare organization, provides managed health care services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces.

Over the past year, Molina Healthcar has traded in a range of $105.28 to $159.00 and closed yesterday at $114.96, 9% above that low. The 200-day and 50-day moving averages have moved 0.13% lower and 1.81% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Molina Healthcar on August 27th, 2019 by issuing a Downtrend alert when the shares were trading at $126.62. Since that call, shares of Molina Healthcar have fallen 9.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle molina healthcar

Ticker(s): MOH