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Possible Bearish Inside Day Candle Pattern Detected for Omega Healthcare (NYSE:OHI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Omega Healthcare (NYSE:OHI) based on the price action in the company's shares. Yesterday's price range of $28.07 and $28.91 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 Omega Healthcare may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Omega Healthcare share prices have been bracketed by a low of $13.33 and a high of $45.10 and closed yesterday at $29.63, 122% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.9%.

Omega Healthcare (NYSE:OHI) is currently priced 2.8% above its average consensus analyst price target of $28.79. Omega Healthcare shares should first meet resistance at the 50-day moving average (MA) of $31.33 and find additional resistance at the 200-day MA of $38.70.

Omega Healthcare Investors, Inc. is a real estate investment trust (REIT). The Company invests in and provides financing to the long-term care industry. Omega operates healthcare facilities in the United States which are operated by independent healthcare operating companies.

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

Keywords: bearish am inside day candle omega healthcare

Ticker(s): OHI