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eHealth Set to Possibly Rebound after Yesterday's Selloff of 4.93% (EHTH)

 

Wednesday, Jan 05,2011, 7:17:28 PM   Click:

eHealth (NASDAQ:EHTH) traded in a range yesterday that spanned from a low of $13.61 to a high of $14.46. Yesterday, the shares fell 4.93%, which took the trading range below the 3-day low of $14.16 on volume of 596,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Shares of eHealth are currently trading below their 50-day moving average (MA) of $14.56 and should find support at their 200-day MA of $13.04. Look for the MA to provide resistance for a short-term rebound in the shares.

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

SmarTrend expects the share price to rebound toward the $14.16 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Insurance Brokers industry.

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