Technical Analysis: Medco Health Solutions Put Volume Up 7x as Traders Hedge Position (MHS)

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- 7/28/2010 1:22:21 PM Shares of Medco Health Solutions (NYSE:MHS) are trading 3% lower today, recently trading at $47.82. The stock has been drifting lower over the past ten trading days and is currently trading in a technical downtrend. The put volume today was 8,368 contracts, which is 7x the average daily volume of 1,173. Usually high put volume is an indicator that many investors are looking for lower prices in the near future. SmarTrend alerted subscribers to take profits in Medco Health Solutions on June 24, 2010 at $56.66, since then the stock fell 15.6%. We are now watching for any positive developments that could result in a new uptrend signal.