After Yesterday's Rally of 1.09% Shares Could Potentially Pullback
WellCare Health Plans (NYSE:WCG) traded in a range yesterday that spanned from a low of $104.57 to a high of $106.60. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $105.54 on volume of 137,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, WellCare Health Plans share prices have been bracketed by a low of $69.16 and a high of $106.60 and are now at $105.78, 53% 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 8.1%. We continue to monitor WCG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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