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Possible Bearish Inside Day Candle Pattern Detected for New Senior Inves (NYSE:SNR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in New Senior Inves (NYSE:SNR) based on the price action in the company's shares. Yesterday's price range of $6.47 and $6.60 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 New Senior Inves may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of New Senior Inves have traded between a low of $4.04 and a high of $7.26 and closed yesterday at $6.36, which is 57% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.2%.

Potential upside of 41.5% exists for New Senior Inves, based on a current level of $6.36 and analysts' average consensus price target of $9.00. The stock should hit resistance at its 50-day moving average (MA) of $6.78, as well as support at its 200-day MA of $5.70.

New Senior Investment Group Inc. (NYSE: SNR) is a publicly-traded real estate investment trust with a diversified portfolio of senior housing properties located across the United States. As of December 31, 2018, New Senior is one of the largest owners of senior housing properties, with 133 properties across 37 states.

SmarTrend is monitoring the recent change of momentum in New Senior Inves. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of New Senior Inves in search of a potential trend change.

Keywords: bearish am inside day candle new senior inves

Ticker(s): SNR