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Possible Bearish Inside Day Candle Pattern Detected for Ashford Hospital (NYSE:AHT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ashford Hospital (NYSE:AHT) based on the price action in the company's shares. Today's price range of $3.13 and $3.15 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Ashford Hospital may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ashford Hospitality Trust Inc is a self-advised real estate investment trust focusing on the lodging industry. The Company owns several hotel properties in primary, secondary, and resort markets throughout the United States.

In the past 52 weeks, Ashford Hospital share prices have been bracketed by a low of $2.33 and a high of $6.56 and are now at $3.15, 35% above that low price. The 200-day and 50-day moving averages have moved 1.02% lower and 1.32% higher over the past week, respectively.

There is potential upside of 146.0% for shares of Ashford Hospital based on a current price of $3.15 and an average consensus analyst price target of $7.75. The stock should hit resistance at its 200-day moving average (MA) of $4.22, as well as support at its 50-day MA of $2.74.

SmarTrend is monitoring the recent change of momentum in Ashford Hospital. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ashford Hospital in search of a potential trend change.

Keywords: bearish inside day candle ashford hospital

Ticker(s): AHT