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Possible Bearish Inside Day Candle Pattern Detected for Ventas Inc (NYSE:VTR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ventas Inc (NYSE:VTR) based on the price action in the company's shares. Yesterday's price range of $30.84 and $31.60 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 Ventas Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 70.0% for shares of Ventas Inc based on a current price of $32.35 and an average consensus analyst price target of $55.00. The stock should find initial resistance at its 50-day moving average (MA) of $35.31 and further resistance at its 200-day MA of $57.41.

Over the past year, Ventas Inc has traded in a range of $13.35 to $75.40 and closed yesterday at $32.35, 142% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 6.1% while the 200-day MA has slid 1.3%.

Ventas, Inc. is a real estate investment trust. The Trust owns seniors housing communities, skilled nursing facilities, hospitals, and medical office buildings in the United States and Canada.

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

Keywords: bearish am inside day candle ventas inc

Ticker(s): VTR