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

By Shiri Gupta

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 $73.19 and $73.90 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 share prices have moved between a 52-week high of $75.40 and a 52-week low of $52.80 and closed yesterday at 40% above that low price at $73.70 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

Ventas Inc (NYSE:VTR) is currently priced 25.4% above its average consensus analyst price target of $55.00. Ventas Inc shares have support at the 50-day moving average (MA) of $72.31 and additional support at the 200-day MA of $65.90.

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: bullish am inside day candle ventas inc

Ticker(s): VTR