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Shares of Molina Healthcar Rise Above Previous 52-Week High

By James Quinn

Shares of Molina Healthcar (NYSE:MOH) traded at a new 52-week high today of $97.65. This new high was reached on below average trading volume as 125,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

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.

Molina Healthcar (NYSE:MOH) is currently priced 5.4% above its average consensus analyst price target of $91.78. The stock should discover initial support at its 50-day moving average (MA) of $84.82 and subsequent support at its 200-day MA of $77.07.

Over the past year, Molina Healthcar has traded in a range of $56.67 to $97.65 and is now at $97.06, 71% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Molina Healthcar on March 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.42. Since that recommendation, shares of Molina Healthcar have risen 22.3%. We continue to monitor MOH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows molina healthcar

Ticker(s): MOH