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Possible Bullish Inside Day Candle Pattern Detected for Genesis Healthca (NYSE:GEN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Genesis Healthca (NYSE:GEN) based on the price action in the company's shares. Yesterday's price range of $0.80 and $0.87 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 Genesis Healthca 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 Genesis Healthca have traded between a low of $0.73 and a high of $1.86 and closed yesterday at $0.86, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.9%.

Genesis Healthca has overhead space with shares priced $0.86, or 69.2% below the average consensus analyst price target of $2.80. Genesis Healthca shares should first meet resistance at the 200-day moving average (MA) of $1.36 and find additional resistance at the 50-day MA of $1.48.

Genesis Healthcare, Inc. provides post-acute care services. The Company offers short stay and long term care, specialized care, rehabilitation, and assisted and senior living services at various centers. Genesis Healthcare serves customers in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Genesis Healthca on March 9th, 2020 by issuing a Downtrend alert when the shares were trading at $1.37. Since that call, shares of Genesis Healthca have fallen 42.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle genesis healthca

Ticker(s): GEN