Healthspring Close to the 50 Day

Published on Monday, 06 February 2012 20:04 Written by TradersHuddle Staff

New York, February 6th (TradersHuddle.com) - Shares of Healthspring, Inc. (NYSE:HS) closed the trading day at $55.00 close to its 50 day moving average currently set at $54.61. Healthspring's price action is just above this important support level translating into a trading opportunity.

Healthspring, Inc. (NYSE:HS) is a managed care organization whose primary focus is the Medicare Advantage market. The Company serves Medicare recipients with a comprehensive network of hospitals and physicians. Healthspring offers Medicare Advantage plans in Alabama, Florida, Georgia, Illinois, Mississippi, Tennessee and Texas and also offers a national stand-alone Medicare prescription drug plan.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $38.05 and calculated resistance at $54.46. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on Healthspring will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.