VTR surges, gaining $1.20 (2.05%) within a single day
Ventas Inc. (VTR) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
VTR ended the week 1.37% higher at 59.75 after surging $1.20 (2.05%) today, significantly outperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. This is the biggest single-day gain in over two months. The last time we've seen such an unusually strong single-day gain on January 16th, VTR gained 0.29% on the following trading day. Today's close at 59.75 marks the highest recorded closing price since November 7, 2019. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 59.61, the stock confirmed its breakout through the prior session high after trading up to $0.31 above it intraday.
Daily Candlestick Chart (VTR as at Feb 14, 2020):
Friday's trading range has been $1.16 (1.97%), that's far above the last trading month's daily average range of $0.89. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for VTR.
One bullish candlestick pattern matches today's price action, the White Candle.
Crossing above the upper Bollinger Band for the first time since January 21st, prices have shown unusually strong upward momentum in the short-term. This might either indicate a potential buying climax after which prices could head back down towards the mean of the Bollinger Bands at 58.56 or signal the beginning of a strong momentum breakout leading to even higher prices.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Among the 10 market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "White Candle" stand out. Its common bullish interpretation has been confirmed for Ventas. Out of 601 times, VTR closed higher 52.41% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 57.57% with an average market move of 0.21%.