An Important Test for Sabra Health Care REIT, Inc. (SBRA)

The stock of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) has been Initiated to Overweight by Barclays in its latest research note that was published on September 03. SBRA was given a price target of $24, with other Wall Street analysts also giving their reports regarding the stock. SunTrust analysts have downgraded their rating of SBRA stock from Buy to Hold in a separate flash note to investors on December 18. Analysts at BofA/Merrill downgraded the stock to a Underperform call from its previous Neutral stance, in a research note that dated back to November 16.

Sabra Health Care REIT, Inc., which has current market capitalization of above $4 Billion, published its last quarter earnings on June 30, 2019.

SBRA surged by $0.29 during the normal trading session on Thursday and reaching a high of $22.66 during the day while it closed the day at $22.49. The Sabra stock had a high trading volume of 1.69 million shares on that day, which is high compared to the average daily volume of 1.42M shares. SBRA has also gained 2.32% of its value over the past 7 days. However, the stock has surged by 15.45% in the 3 months of the year. Over the past six months meanwhile, it has gained 22.36% while it has added 36.47% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -0.75% from its 3 months high price. However, taking another look at SBRA will indicate that it is trading +19.69% away from its 90-day low. Looking at the bigger picture, the Sabra Health Care REIT, Inc. stock has dropped by -5.03% from its 52-week high while it has surged by +43.25% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 94.04%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 91.01%. Over the past 20 days, Sabra’s Stochastic %K stood at 80.63% while its Stochastic %D was revealed to be 72.42%.