• Return to Headlines

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 $59.90 and $60.01 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 (NYSE:VTR) is currently priced 8.4% above its average consensus analyst price target of $55.00. The stock should hit resistance at its 50-day moving average (MA) of $60.65, as well as support at its 200-day MA of $56.44.

Ventas Inc share prices have moved between a 52-week high of $65.70 and a 52-week low of $46.55 and closed yesterday at 29% above that low price at $60.02 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

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.

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

Keywords: bearish am inside day candle ventas inc

Ticker(s): VTR