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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ventas Inc (NYSE:VTR) based on the price action in the company's shares. Yesterday's price range of $22.97 and $23.99 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 Ventas 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.

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.

Ventas Inc (NYSE:VTR) has potential upside of 139.0% based on a current price of $23.01 and analysts' consensus price target of $55.00. Ventas Inc shares should first meet resistance at the 50-day moving average (MA) of $46.40 and find additional resistance at the 200-day MA of $61.22.

In the past 52 weeks, shares of Ventas Inc have traded between a low of $13.35 and a high of $75.40 and closed yesterday at $23.01, which is 72% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 5.4%.

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: bullish am inside day candle ventas inc

Ticker(s): VTR