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Watch for Continued Gains in Shares of WellCare Health Plans (WCG)

By Shiri Gupta

Shares of WellCare Health Plans (NYSE:WCG) traded at a new 52-week high today of $167.71. Approximately 101,000 shares have changed hands today, as compared to an average 30-day volume of 444,000 shares.

WellCare Health Plans (NYSE:WCG) defies analysts with a current price ($166.98) 11.0% above its average consensus price target of $148.62. The stock should discover initial support at its 50-day moving average (MA) of $91.88 and subsequent support at its 200-day MA of $85.38.

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

In the past 52 weeks, WellCare Health Plans share prices have been bracketed by a low of $69.16 and a high of $167.71 and are now at $166.98, 141% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of WellCare Health Plans on April 19th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $147.39. Since that recommendation, shares of WellCare Health Plans have risen 12.6%. 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