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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Davita Inc (NYSE:DVA) based on the price action in the company's shares. Yesterday's price range of $73.56 and $74.98 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. Traders and investors interested in shares of Davita Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Davita Inc have traded between a low of $43.40 and a high of $90.15 and closed yesterday at $72.41, which is 67% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has risen 0.4%.

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.

Davita Inc has overhead space with shares priced $72.41, or 11.8% below the average consensus analyst price target of $82.06. Davita Inc shares should encounter resistance at the 50-day moving average (MA) of $76.68 and support at its 200-day MA of $68.26.

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: bullish am inside day candle davita inc

Ticker(s): DVA