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Evolent Health-A Rises 4.68% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Evolent Health-A (NYSE:EVH) traded in a range yesterday that spanned from a low of $26.45 to a high of $27.55. Yesterday, the shares gained 4.7%, which took the trading range above the 3-day high of $26.35 on volume of 1.6 million 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 $10.30 to $27.55 and is now at $27.42, 166% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 1.2%.

SmarTrend recommended that subscribers consider buying shares of Evolent Health-A on August 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.90. Since that recommendation, shares of Evolent Health-A have risen 14.2%. 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