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Recent 52-Week High Exceeded in Shares of WellCare Health Plans (WCG)

By Shiri Gupta

WellCare Health Plans (NYSE:WCG) traded at a new 52-week high today of $106.81. Approximately 55,000 shares have changed hands today, as compared to an average 30-day volume of 444,000 shares.

WellCare Health Plans Inc provides managed care services targeted exclusively to government-sponsored healthcare programs. The Company operates health plans in multiple states.

WellCare Health Plans (NYSE:WCG) is currently priced 13.0% above its average consensus analyst price target of $92.67. The stock should find initial support at its 50-day moving average (MA) of $91.88 and further support at its 200-day MA of $85.38.

In the past 52 weeks, WellCare Health Plans share prices have been bracketed by a low of $69.16 and a high of $106.81 and are now at $106.49, 54% above that low price. The 200-day and 50-day moving averages have moved 0.22% higher and 0.46% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of WellCare Health Plans on May 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $96.79. Since that recommendation, shares of WellCare Health Plans have risen 8.7%. We continue to monitor WCG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows wellcare health plans

Ticker(s): WCG