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SmarTrend Watching for Potential Pullback in Shares of Health Care REIT After 1.83% Gain

By Shiri Gupta

Health Care REIT (NYSE:HCN) traded in a range yesterday that spanned from a low of $69.71 to a high of $70.73. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $70.69 on volume of 670,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Health Care REIT have traded between a low of $52.80 and a high of $80.19 and are now at $70.70, which is 34% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.4%.

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

Keywords: rebounders health care reit

Ticker(s): HCN