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Recent 52-Week High Exceeded in Shares of WellPoint (WLP)

By James Quinn

WellPoint (NYSE:WLP) traded at a new 52-week high today of $101.14. This new high was reached on below average trading volume as 1.1 million shares traded hands, while the average 30-day volume is approximately 2.8 million shares.

WellPoint (NYSE:WLP) is currently priced 4.1% above its average consensus analyst price target of $96.94. WellPoint shares have support at the 50-day moving average (MA) of $89.17 and additional support at the 200-day MA of $87.06.

WellPoint Inc. is a health benefits company. The Company provides health benefits, dental and vision benefits, pharmacy benefits, life insurance, and life and disability insurance benefits. WellPoint operations include Blue Cross and Blue Shield plans.

In the past 52 weeks, WellPoint share prices have been bracketed by a low of $63.31 and a high of $101.14 and are now at $101.09, 60% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of WellPoint on February 18th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.34. Since that recommendation, shares of WellPoint have risen 12.9%. We continue to monitor WLP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows WellPoint

Ticker(s): WLP