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

By David Diaz

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 $59.78 and $60.73 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.

In the past 52 weeks, Ventas share prices have been bracketed by a low of $46.87 and a high of $74.06 and closed yesterday at $60.49, 29% 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 (NYSE:VTR) defies analysts with a current price ($60.49) 2.3% above its average consensus price target of $59.08. The stock should find initial support at its 50-day moving average (MA) of $59.00 and further support at its 200-day MA of $57.47.

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 recommended that subscribers consider buying shares of Ventas on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.88. Since that recommendation, shares of Ventas have risen 14.4%. We continue to monitor VTR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle ventas

Ticker(s): VTR