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Possible Bearish Inside Day Candle Pattern Detected for Ltc Properties (NYSE:LTC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ltc Properties (NYSE:LTC) based on the price action in the company's shares. Yesterday's price range of $45.18 and $46.00 is within the prior day'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 Ltc Properties 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 $45.45, Ltc Properties is currently 8.7% above its average consensus analyst price target of $41.50. The stock should find initial resistance at its 50-day moving average (MA) of $45.96 and further resistance at its 200-day MA of $47.04.

LTC Properties, Inc. is a real estate investment trust. The Company invests in long-term health care facilities, assisted living residences, and schools through mortgage loans, facility lease transactions, and other investments.

Ltc Properties share prices have moved between a 52-week high of $53.04 and a 52-week low of $42.31 and closed yesterday at 7% above that low price at $45.45 per share. The 200-day and 50-day moving averages have moved 0% lower and 0.77% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Ltc Properties on November 5th, 2019 by issuing a Downtrend alert when the shares were trading at $49.08. Since that call, shares of Ltc Properties have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle ltc properties

Ticker(s): LTC