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

By Amy Schwartz

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 $56.92 and $56.95 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.

There is potential upside of 44.2% for shares of Davita Inc based on a current price of $56.92 and an average consensus analyst price target of $82.06. The stock should find resistance at its 200-day moving average (MA) of $61.95, as well as support at its 50-day MA of $54.34.

Davita Inc share prices have moved between a 52-week high of $79.11 and a 52-week low of $48.25 and are now trading 18% above that low price at $56.92 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.2%.

DaVita Inc. provides kidney dialysis services for patients suffering from chronic kidney failure or end stage renal disease (ESRD). The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers.

SmarTrend recommended that subscribers consider buying shares of Davita Inc on April 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.63. Since that recommendation, shares of Davita Inc have risen 3.9%. 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