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

By Nick Russo

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 $74.98 and $75.40 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 9.4% based on a current price of $75.01 and analysts' consensus price target of $82.06. Davita Inc shares have support at the 50-day moving average (MA) of $70.46 and additional support at the 200-day MA of $58.96.

DaVita Inc. provides a variety of health care services. The Company provides kidney dialysis services for patients suffering from chronic kidney failure. DaVita serves patients worldwide.

In the past 52 weeks, shares of Davita Inc have traded between a low of $43.40 and a high of $75.61 and closed yesterday at $75.01, which is 73% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Davita Inc on October 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.79. Since that recommendation, shares of Davita Inc have risen 30.7%. We continue to monitor DVA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle davita inc

Ticker(s): DVA