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After Yesterday's Rally of 2.18% Shares Could Potentially Pullback

By David Diaz

Molina Healthcare (NYSE:MOH) traded in a range yesterday that spanned from a low of $65.97 to a high of $68.11. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $66.84 on volume of 367,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Molina Healthcare share prices have moved between a 52-week high of $82.37 and a 52-week low of $42.56 and are now trading 59% above that low price at $67.87 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.8%.

SmarTrend recommended that subscribers consider buying shares of Molina Healthcare on April 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.51. Since that recommendation, shares of Molina Healthcare have risen 37.4%. We continue to monitor MOH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders molina healthcare

Ticker(s): MOH