Brookdale Senior Living, Inc. (NYSE: BKD)

Brookdale Senior Living, Inc. owns and operates senior living communities in the United States. It operates in six segments. The Retirement Centers segment owns or leases communities comprising independent living and assisted living units in a single community that are primarily designed for middle to upper income senior citizens. The Assisted Living segment owns or leases communities consisting of freestanding, multi-story communities, and freestanding single story communities, which offer housing and 24-hour assistance to mid-acuity frail and elderly residents. The CCRCs-Rental segment owns or leases communities that offer various living arrangements and services to accommodate physical ability and health. The CCRCs-Entry Fee segment allows residents in the independent living apartment units to pay a one-time upfront entrance fee to use certain amenities and services. The Innovative Senior Care segment provides outpatient therapy, home health, and hospice services to residents of its communities and other senior living communities. The Management Services segment operates third party communities under the management agreements.

To review Brookdale’s stock, please take a look at the 1-year chart of BKD (Brookdale Senior Living, Inc.) below with my added notations:

1-year chart of BKD (Brookdale Senior Living, Inc.)

BKD has been trading sideways for the majority of the year. The stock has also created a $30 resistance (teal) and a major support level at $26 (brown) during that period of time. A break through the $30 resistance would also be a new 52-week high for the stock and should mean higher prices ahead. One last thing to notice: If the stock pulls back first to prepare to break higher, the level of $28 (blue) could act as support.

The Tale of the Tape: BKD has a 52-week high resistance at $30. A long trade could be entered on a break through that level or on a pullback to $28. If a test of $28 doesn’t hold, a fall to $26 would also provide a long opportunity. If the stock breaks below $26, a short trade should be entered.

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Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT