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Look for Shares of Wellcare Health to Potentially Rebound after Yesterday's 5.49% Sell Off

By Shiri Gupta

Wellcare Health (NYSE:WCG) traded in a range yesterday that spanned from a low of $236.71 to a high of $250.22. Yesterday, the shares fell 5.5%, which took the trading range below the 3-day low of $245.84 on volume of 544,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Wellcare Health share prices have moved between a 52-week high of $324.99 and a 52-week low of $187.06 and are now trading 35% above that low price at $252.26 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has risen 0.4%.

SmarTrend is monitoring the recent change of momentum in Wellcare Health. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wellcare Health in search of a potential trend change.

Keywords: rebounders wellcare health

Ticker(s): WCG