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Possible Bearish Inside Day Candle Pattern Detected for Davita Inc (NYSE:DVA)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Davita Inc (NYSE:DVA) based on the price action in the company's shares. Yesterday's price range of $68.72 and $69.96 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 Davita Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Davita Inc (NYSE:DVA) has potential upside of 18.6% based on a current price of $69.19 and analysts' consensus price target of $82.06. Davita Inc shares have support at the 50-day moving average (MA) of $58.74 and additional support at the 200-day MA of $55.55.

DaVita Inc. provides kidney dialysis services for patients suffering from chronic kidney failure or end stage renal disease (ESRD). The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers.

Over the past year, Davita Inc has traded in a range of $43.40 to $79.11 and closed yesterday at $69.19, 59% above that low. The 200-day and 50-day moving averages have moved 0.33% higher and 1.58% higher over the past week, respectively.

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

Keywords: bearish am inside day candle davita inc

Ticker(s): DVA