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Medco Health Solutions Rises 3.22% on Heavy Volume: Watch For Potential Pullback
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Medco Health Solutions (NYSE:MHS) traded in a range yesterday that spanned from a low of $60.92 to a high of $63.04. Yesterday, the shares gained 3.2%, which took the trading range above the 3-day high of $61.17 on volume of 8.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Medco Health Solutions have traded between a low of $44.60 and a high of $66.38 and are now at $62.90, which is 41% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
SmarTrend recommended that subscribers consider buying shares of Medco Health Solutions on October 27th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.52. Since that recommendation, shares of Medco Health Solutions have risen 13.9%. We continue to monitor MHS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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