WellPoint is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint trades an average of 1.8 million shares per day with a marketcap of $24 billion.
On Monday, WellPoint climbed to a new 52 week high and is up over 15% in the last year. During the last month alone, shareholders witnessed shares climb in value over 6.5%.
As strong as WellPoint has been during the last few months, the chart remains impressive for the bullish thesis. Monday's break above the 52-week high is based on a trading range started over a month ago. I see this type of price action in stocks that are moving towards a newer and higher price range.We can all agree the few short-sellers of WellPoint aren't feeling well lately, and I wouldn't expect many will join the few that made the mistake of shorting. Currently, short interest is 1.7% of the float, a relatively small amount. Follow @RobertWeinstein This article was written by an independent contributor, separate from TheStreet's regular news coverage.
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