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

By Shiri Gupta

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 $193.29 and $195.31 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.

In the past 52 weeks, Vail Resorts share prices have been bracketed by a low of $179.60 and a high of $302.76 and closed yesterday at $194.91, 9% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 1.92% lower over the past week, respectively.

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.

Vail Resorts (NYSE:MTN) has potential upside of 30.2% based on a current price of $194.91 and analysts' consensus price target of $253.86. The stock should run into initial resistance at its 50-day moving average (MA) of $219.95 and subsequent resistance at its 200-day MA of $254.77.

SmarTrend recommended that its subscribers protect gains by selling shares of Vail Resorts on December 7th, 2018 by issuing a Downtrend alert when the shares were trading at $238.05. Since that call, shares of Vail Resorts have fallen 17.3%. 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 vail resorts

Ticker(s): MTN