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Possible Bearish Inside Day Candle Pattern Detected for Senior Housing Properties Trust (NYSE:SNH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Senior Housing Properties Trust (NYSE:SNH) based on the price action in the company's shares. Today's price range of $21.19 and $21.47 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 Senior Housing Properties Trust may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Senior Housing Properties Trust is a real estate investment trust that owns senior living properties which are leased to unaffiliated tenants. The Trust currently owns independent living and assisted living communities, continuing care retirement communities, nursing homes, wellness centers, and medical office, clinic and biotech laboratory buildings located throughout the U.S.

Senior Housing Properties Trust (NYSE:SNH) defies analysts with a current price ($21.37) 1.0% above its average consensus price target of $21.17. Senior Housing Properties Trust shares have support at the 50-day moving average (MA) of $17.31 and additional support at the 200-day MA of $15.90.

In the past 52 weeks, Senior Housing Properties Trust share prices have been bracketed by a low of $13.53 and a high of $23.85 and are now at $21.37, 58% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has remained constant.

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

Keywords: bearish inside day candle senior housing properties trust

Ticker(s): SNH