New York, January 12th (TradersHuddle.com) – Shares of Health Care REIT, Inc. (NYSE:HCN) booked a new 52 week high today by trading above $55.76, traders are definitely monitoring Health Care’s price action to see if this move attracts further buying into the stock.
Health Care REIT, Inc. (NYSE:HCN) is a real estate investment trust. The Trust invests in senior housing and health care real estate. The trust owns interests in nursing homes, retirement centers, assisted living facilities, and specialty care hospitals.
Health Care REIT is currently trading -0.88% versus its previous trading session close, and it has calculated support and resistance at $47.08 and $55.76 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range
The overall market index S&P 500 is trading lower by -0.29% from its previous trading close, which means that Health Care REIT stock is underperforming the overall market.