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Possible Bearish Inside Day Candle Pattern Detected for Hcp Inc (NYSE:HCP)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hcp Inc (NYSE:HCP) based on the price action in the company's shares. Today's price range of $37.19 and $37.46 is within yesterday'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 Hcp Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

HCP, Inc. is a real estate investment trust. The Trust invests in health care related real estate properties such as senior housing, life sciences, medical offices, hospitals, and skilled nursing homes throughout the United States.

Hcp Inc share prices have moved between a 52-week high of $37.93 and a 52-week low of $26.58 and are now trading 41% above that low price at $37.40 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.

Hcp Inc (NYSE:HCP) defies analysts with a current price ($37.40) 32.6% above its average consensus price target of $25.21. Hcp Inc shares have support at the 50-day moving average (MA) of $35.75 and additional support at the 200-day MA of $32.54.

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

Keywords: bearish inside day candle hcp inc

Ticker(s): HCP