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Possible Bearish Inside Day Candle Pattern Detected for Humana Inc (NYSE:HUM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Humana Inc (NYSE:HUM) based on the price action in the company's shares. Yesterday's price range of $370.80 and $380.00 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Humana Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Humana Inc. is a managed health care company with medical members located in the United States and Puerto Rico. The Company offers coordinated health care through health maintenance organizations, preferred provider organizations, point-of-service plans, and administrative services products. Humana offers its products to employer groups, government-sponsored plans, and individuals.

Humana Inc share prices have moved between a 52-week high of $381.04 and a 52-week low of $225.65 and closed yesterday at 67% above that low price at $375.85 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.8%.

Based on a current price of $375.85, Humana Inc is currently 19.2% above its average consensus analyst price target of $303.67. The stock should discover initial support at its 50-day moving average (MA) of $359.52 and subsequent support at its 200-day MA of $298.66.

SmarTrend is tracking the current trend status for Humana Inc and will alert subscribers who have HUM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle humana inc

Ticker(s): HUM