Possible Bullish Inside Day Candle Pattern Detected for Ventas (NYSE:VTR)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ventas (NYSE:VTR) based on the price action in the company's shares. Today's price range of $66.51 and $67.58 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. Traders and investors interested in shares of Ventas may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Ventas (NYSE:VTR) is currently priced 11.3% above its average consensus analyst price target of $59.08. The stock should discover initial support at its 50-day moving average (MA) of $61.13 and subsequent support at its 200-day MA of $57.41.
In the past 52 weeks, Ventas share prices have been bracketed by a low of $46.87 and a high of $76.80 and are now at $66.58, 42% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.
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 and will alert subscribers who have VTR in their portfolio or watchlist when shares have changed trend direction.
Keywords: bullish inside day candle ventas