SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in HCP (NYSE:HCP) based on the price action in the company's shares. Today's price range of $41.59 and $42.00 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 HCP may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

HCP, Inc. is a real estate investment trust. The Trust invests in health care related real estate throughout the United States. HCP's properties include senior housing, life sciences, medical offices, hospitals, and skilled nursing homes.

HCP (NYSE:HCP) is currently priced 7.1% above its average consensus analyst price target of $38.77. The stock should discover initial support at its 50-day moving average (MA) of $39.44 and subsequent support at its 200-day MA of $37.36.

HCP share prices have moved between a 52-week high of $42.42 and a 52-week low of $28.76 and are now trading 45% above that low price at $41.71 per share. The 200-day and 50-day moving averages have moved 0.22% higher and 0.65% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of HCP on December 15th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.89. Since that recommendation, shares of HCP have risen 8.1%. We continue to monitor HCP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.