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Possible Bearish Inside Day Candle Pattern Detected for Vail Resorts (NYSE:MTN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Vail Resorts (NYSE:MTN) based on the price action in the company's shares. Yesterday's price range of $275.70 and $280.89 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 Vail Resorts may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Vail Resorts, Inc. operates resorts in Colorado. The Company's resorts include Vail Mountain, a ski mountain complex, and Beaver Creek Resort, a family oriented mountain resort. Vail Resorts also operates Breckenridge Mountain, a destination resort with apres-ski activities and Keystone Resort, a year-round family vacation destination.

In the past 52 weeks, shares of Vail Resorts have traded between a low of $200.68 and a high of $302.76 and closed yesterday at $277.77, which is 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has risen 0.5%.

Vail Resorts (NYSE:MTN) is currently priced 8.6% above its average consensus analyst price target of $253.86. The stock should find initial support at its 50-day moving average (MA) of $259.32 and further support at its 200-day MA of $256.81.

SmarTrend is tracking the current trend status for Vail Resorts and will alert subscribers who have MTN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle vail resorts

Ticker(s): MTN