New York, November 28th (TradersHuddle.com) – Shares of WellCare Health Plans, Inc. (NYSE:WCG) booked a new 52 week high today by trading above $56.3, traders are definitely monitoring WellCare’s price action to see if this move attracts further buying into the stock.
WellCare Health Plans, Inc. (NYSE:WCG) provides managed care services exclusively for government-sponsored health care programs, focusing on Medicaid and Medicare. The company is headquartered in Tampa, Florida, it offers a variety of health plans in multiple states.
WellCare is currently trading 7.49% versus its previous trading session close, and it has calculated support and resistance at $52.95 and $55.60 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range
The overall market index S&P 500 is trading higher by 3.06% from its previous trading close, which means that WellCare stock is outperforming the overall market.