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Possible Bullish Inside Day Candle Pattern Detected for Omega Healthcare Investors (NYSE:OHI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Omega Healthcare Investors (NYSE:OHI) based on the price action in the company's shares. Yesterday's price range of $31.71 and $32.20 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. Traders and investors interested in shares of Omega Healthcare Investors may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 3.5% for shares of Omega Healthcare Investors based on a current price of $32.16 and an average consensus analyst price target of $33.30. Omega Healthcare Investors shares should first meet resistance at the 200-day moving average (MA) of $34.13 and find additional resistance at the 50-day MA of $34.18.

OMEGA Healthcare Investors, Inc. is a real estate investment trust (REIT). The Company invests in and provides financing to the long-term care industry. OMEGA operates healthcare facilities in the United States which are operated by independent healthcare operating companies.

In the past 52 weeks, Omega Healthcare Investors share prices have been bracketed by a low of $26.96 and a high of $38.09 and closed yesterday at $32.16, 19% above that low price. The 200-day and 50-day moving averages have moved 0.09% lower and 0.82% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Omega Healthcare Investors. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Omega Healthcare Investors in search of a potential trend change.

Keywords: bullish am inside day candle omega healthcare investors

Ticker(s): OHI