• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Sabra Health Car (NASDAQ:SBRA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sabra Health Car (NASDAQ:SBRA) based on the price action in the company's shares. Yesterday's price range of $21.50 and $21.74 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 Sabra Health Car may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Sabra Health Care REIT, Inc. operates a real estate investment trust. The Company owns nursing homes, rehabilitation centers, assisted living facilities, and independent living centers.

Sabra Health Car (NASDAQ:SBRA) defies analysts with a current price ($21.63) 2.2% above its average consensus price target of $21.15. The stock should find resistance at its 50-day moving average (MA) of $22.04, as well as support at its 200-day MA of $20.93.

Sabra Health Car share prices have moved between a 52-week high of $24.95 and a 52-week low of $17.26 and closed yesterday at 25% above that low price at $21.63 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Sabra Health Car on November 7th, 2019 by issuing a Downtrend alert when the shares were trading at $22.73. Since that call, shares of Sabra Health Car have fallen 4.0%. 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 sabra health car

Ticker(s): SBRA