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Bullish Moving Average Cross by Acadia Healthcare (ACHC)

Published on Mon, 03/04/2013 - 12:13
By Adrienne Chilton

Today, shares of Acadia Healthcare (NASDAQ:ACHC) have crossed bullishly above their 10-day moving average of $26.64 on a volume of 170K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Acadia Healthcare has traded in a range of $14.40 to $28.49 and is now at $27.49, 91% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 1.8%.

Acadia Healthcare Company, Inc. engages in the provision of behavioral healthcare services in the United States. It operates acute inpatient psychiatric facilities that provide evaluation and crisis stabilization of patients with severe psychiatric diagnoses.

There is potential upside of 5.5% for shares of Acadia Healthcare based on a current price of $27.49 and an average consensus analyst price target of $29.00. The stock should discover initial support at its 50-day moving average (MA) of $25.23 and subsequent support at its 200-day MA of $21.12.

By Adrienne Chilton
achilton@fnno.com