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

By Amy Schwartz

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. Today's price range of $71.65 and $71.82 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 Ventas Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Ventas Inc has traded in a range of $51.80 to $73.74 and is now at $71.76, 39% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.6%.

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.

Ventas Inc (NYSE:VTR) is currently priced 23.4% above its average consensus analyst price target of $55.00. Ventas Inc shares have support at the 50-day moving average (MA) of $67.85 and additional support at the 200-day MA of $63.28.

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 inside day candle ventas inc

Ticker(s): VTR