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After Yesterday's Rally of 1.26% Shares Could Potentially Pullback

By James Quinn

Evolent Health-A (NYSE:EVH) traded in a range yesterday that spanned from a low of $10.17 to a high of $10.62. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $10.45 on volume of 337,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Evolent Health-A has traded in a range of $5.50 to $19.13 and is now at $10.44, 90% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Evolent Health-A on December 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.69. Since that recommendation, shares of Evolent Health-A have risen 18.7%. We continue to monitor EVH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders evolent health-a

Ticker(s): EVH