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Possible Bearish Inside Day Candle Pattern Detected for Davita Inc (NYSE:DVA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Davita Inc (NYSE:DVA) based on the price action in the company's shares. Today's price range of $79.33 and $80.03 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Davita Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $79.33, Davita Inc is currently 8.2% above its average consensus analyst price target of $72.85. The stock should find initial support at its 200-day moving average (MA) of $72.57 and further support at its 50-day MA of $72.34.

DaVita Inc. provides a variety of health care services. The Company provides kidney dialysis services for patients suffering from chronic kidney failure. DaVita serves patients worldwide.

Davita Inc share prices have moved between a 52-week high of $80.71 and a 52-week low of $52.51 and are now trading 51% above that low price at $79.33 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Davita Inc on November 30th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.75. Since that recommendation, shares of Davita Inc have risen 31.7%. We continue to monitor DVA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle davita inc

Ticker(s): DVA