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Volume Spike Detected in Shares of eHealth as They Move Higher on 1.8x Above-Average Volume (EHTH)

Published on Tue, 04/02/2013 - 13:13
By Robert Cotter

Shares of eHealth are trading today in above average volume, with the share price rising 17.1% to $20.70. About 788,000 shares have been traded today, as compared to the 30-day average volume of 430,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

eHealth, Inc. sells health insurance over the Internet. The Company serves individuals, families, and small businesses.

Over the past year, eHealth has traded in a range of $11.60 to $28.17 and is now at $20.70, 78% above that low. The 200-day and 50-day moving averages have moved 0.09% higher and 1.32% lower over the past week, respectively.

eHealth (NASDAQ:EHTH) has potential upside of 24.4% based on a current price of $20.70 and analysts' consensus price target of $25.75. The stock should find initial support at its 200-day moving average (MA) of $20.38 and further support at its 50-day MA of $20.35.

By Robert Cotter