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

By David Diaz

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 $257.77 and $259.34 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 share prices have moved between a 52-week high of $355.88 and a 52-week low of $225.65 and closed yesterday at 15% above that low price at $258.62 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.6%.

Humana Inc (NYSE:HUM) has potential upside of 17.4% based on a current price of $258.62 and analysts' consensus price target of $303.67. The stock should hit resistance at its 200-day moving average (MA) of $298.76, as well as support at its 50-day MA of $257.57.

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.

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

Keywords: bearish am inside day candle humana inc

Ticker(s): HUM