Analysts have spotted a possible bullish inside day candle pattern in Universal American (NYSE:UAM) based on the price action in the company's shares. Yesterday's price range of $10.60 and $10.81 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. Traders and investors interested in shares of Universal American may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
In the past 52 weeks, Universal American share prices have been bracketed by a low of $6.93 and a high of $11.09 and closed yesterday at $10.74, 55% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.9%.
Universal American Financial Corp. is a life and accident and health insurance holding company. The Company focuses on senior market life insurance, annuity and accident and health insurance products designed for sale primarily in New York, Florida, and Texas.
Universal American (NYSE:UAM) is currently priced 9.7% above its average consensus analyst price target of $9.70. The stock should discover initial support at its 50-day moving average (MA) of $9.92 and subsequent support at its 200-day MA of $8.91.