ANTM pushes through 20-day moving average
Anthem Inc. (ANTM) Technical Analysis Report for Apr 16, 2018
Moving higher for the 3rd day in a row, ANTM finished Monday at 225.27 gaining $3.25 (1.46%) on low volume. Today's closing price of 225.27 marks the highest close since April 5th. Trading up to $1.50 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 223.67, Anthem Inc. confirms its breakout through the prior session's high having traded $2.97 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $4.30 (1.92%), that's slightly below last trading month's daily average range of $4.68. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 227.70. After trading as low as 222.34 during the day, the market found support at the 20-day moving average at 223.38.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. ANTM managed to break above the 20-day moving average at 223.38 today for the first time since April 10th.
With prices trading close to this year's low at 215.52, downside momentum could speed up should the share break out to new lows for the year. As prices are trading close to April's high at 231.31, upside momentum might accelerate should Anthem Inc. mark new highs for the month.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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