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. Yesterday's price range of $66.46 and $67.58 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 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 11.6% above its average consensus analyst price target of $59.08. The stock should find initial support at its 50-day moving average (MA) of $61.13 and further support at its 200-day MA of $57.41.
Over the past year, Ventas has traded in a range of $46.87 to $76.80 and closed yesterday at $66.80, 43% above that low. Over the past week, 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 am inside day candle ventas