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Possible Bullish Inside Day Candle Pattern Detected for Vail Resorts (NYSE:MTN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vail Resorts (NYSE:MTN) based on the price action in the company's shares. Yesterday's price range of $220.93 and $222.50 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 Vail Resorts may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vail Resorts, Inc. operates resorts in Colorado. The Company's resorts include Vail Mountain, a ski mountain complex, and Beaver Creek Resort, a family oriented mountain resort. Vail Resorts also operates Breckenridge Mountain, a destination resort with apres-ski activities and Keystone Resort, a year-round family vacation destination.

In the past 52 weeks, shares of Vail Resorts have traded between a low of $132.65 and a high of $223.43 and closed yesterday at $221.73, which is 67% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 2.0%.

Vail Resorts has overhead space with shares priced $221.73, or 5.2% below the average consensus analyst price target of $234.00. The stock should discover initial support at its 50-day moving average (MA) of $129.90 and subsequent support at its 200-day MA of $104.40.

SmarTrend recommended that subscribers consider buying shares of Vail Resorts on July 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $208.05. Since that recommendation, shares of Vail Resorts have risen 6.6%. We continue to monitor MTN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle vail resorts

Ticker(s): MTN