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WellCare Health Plans: 52-Week High Recently Eclipsed (WCG)

By Shiri Gupta

WellCare Health Plans (NYSE:WCG) traded today at a new 52-week high of $111.80. This new high was reached on below average trading volume as 259,000 shares traded hands, while the average 30-day volume is approximately 444,000 shares.

WellCare Health Plans (NYSE:WCG) is currently priced 17.1% 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.

Over the past year, WellCare Health Plans has traded in a range of $69.16 to $111.80 and is now at $111.80, 62% above that low. The 200-day and 50-day moving averages have moved 0.22% higher and 0.46% higher over the past week, respectively.

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

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 10.4%. 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