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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ashford Hospitality Trust (NYSE:AHT) based on the price action in the company's shares. Today's price range of $6.98 and $7.10 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 Hospitality Trust 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 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.

Ashford Hospitality Trust (NYSE:AHT) has potential upside of 20.5% based on a current price of $7.09 and analysts' consensus price target of $8.55. Ashford Hospitality Trust shares have support at the 200-day moving average (MA) of $6.49 and additional support at the 50-day MA of $5.82.

In the past 52 weeks, shares of Ashford Hospitality Trust have traded between a low of $4.15 and a high of $9.35 and are now at $7.09, which is 71% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.9%.

SmarTrend recommended that subscribers consider buying shares of Ashford Hospitality Trust on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.04. Since that recommendation, shares of Ashford Hospitality Trust have risen 18.1%. We continue to monitor AHT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle ashford hospitality trust

Ticker(s): AHT