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Possible Bearish Inside Day Candle Pattern Detected for Ventas Inc (NYSE:VTR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ventas Inc (NYSE:VTR) based on the price action in the company's shares. Yesterday's price range of $55.53 and $56.23 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 Ventas Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ventas, Inc. is a real estate investment trust. The Trust owns seniors housing communities, skilled nursing facilities, hospitals, and medical office buildings in the United States and Canada.

In the past 52 weeks, Ventas Inc share prices have been bracketed by a low of $54.59 and a high of $75.40 and closed yesterday at $56.05, 3% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.7%.

Ventas Inc (NYSE:VTR) defies analysts with a current price ($56.05) 1.9% above its average consensus price target of $55.00. Ventas Inc shares should first meet resistance at the 50-day moving average (MA) of $62.70 and find additional resistance at the 200-day MA of $66.01.

SmarTrend recommended that its subscribers protect gains by selling shares of Ventas Inc on October 25th, 2019 by issuing a Downtrend alert when the shares were trading at $68.02. Since that call, shares of Ventas Inc 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 ventas inc

Ticker(s): VTR