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Possible Bearish Inside Day Candle Pattern Detected for Brookdale Sr (NYSE:BKD)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Brookdale Sr (NYSE:BKD) based on the price action in the company's shares. Yesterday's price range of $3.40 and $3.71 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. Owners of Brookdale Sr may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 148.4% exists for Brookdale Sr, based on a current level of $3.69 and analysts' average consensus price target of $9.17. The stock should run into initial resistance at its 50-day moving average (MA) of $4.85 and subsequent resistance at its 200-day MA of $6.88.

In the past 52 weeks, Brookdale Sr share prices have been bracketed by a low of $1.47 and a high of $8.80 and closed yesterday at $3.69, 151% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.5% while the 200-day MA has slid 0.4%.

Brookdale Senior Living Inc. operates senior living facilities in the United States. The Company offers its residents access to a full continuum of services across all sectors of the senior living industry. Brookdale Senior operates independent living and assisted living facilities, continuing care retirement communities, and a skilled nursing.

SmarTrend is tracking the current trend status for Brookdale Sr and will alert subscribers who have BKD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle brookdale sr

Ticker(s): BKD