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

By Shiri Gupta

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 $56.94 and $57.25 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.

In the past 52 weeks, shares of Ventas Inc have traded between a low of $54.59 and a high of $75.40 and closed yesterday at $57.00, which is 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 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.

Ventas Inc (NYSE:VTR) defies analysts with a current price ($57.00) 3.5% above its average consensus price target of $55.00. The stock should run into initial resistance at its 50-day moving average (MA) of $57.90 and subsequent resistance at its 200-day MA of $65.46.

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 15.6%. 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