WellCare Looks Good
Medicare eligibility will expand in 2014 under the provisions of the Affordable Care Act of 2010. WellCare Health Plans (WCG) provides managed care services for government-sponsored health care programs and is positioned to benefit from that increase.WellCare Health Plans (WCG) Source: StockCharts.com View Chart » View in New Window »
After pulling back more than 35% since its April 2012 high, the action on the weekly chart looks constructive as the stock attempts to base off a two-year uptrend line and above its 50-day moving average. It is now bumping up against a horizontal resistance level that supported the stock price for most of last year, until it was breached in October. That break has been contained by the uptrend line long enough for the technical indicators to recover and roll back to the upside. The Relative Strength Indicator is crossing above its 21-period signal average, stochastics is making a bullish crossover from an oversold condition, and moving average convergence/divergence is making a positive crossover. During this three-month consolidation period, volume has been attempting to get traction above its 50-day moving average, and while Chaikin Money Flow is in distribution territory, the Money Flow Index, a relative strength indicator of volume, is improving and nearing its centerline....151 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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