Candlesticks - Bearish Engulfing Vail Resorts

Published on Friday, 27 January 2012 04:24 Written by Christian Paolinetti

New York, January 27th (TradersHuddle.com) - Shares of Vail Resorts, Inc. (NYSE:MTN) ended the trading session lower by $1.51 or -3.35% from its previous close. Vail Resorts' price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Vail Resorts, Inc. (NYSE:MTN) operates ski resorts in Colorado that include Vail Mountain, Beaver Creek Resort, Breckenridge Mountain, and Keystone Resort. The resorts are operated year round with summer and winter activities.

Vail Resorts' current stock range is defined by calculated support defined at $37.54 and by the resistance level at $46.01, which should be used by traders planning their trades.

Traders wanting to establish a position in Vail Resorts stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Vail Resorts shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: