• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Cubesmart (NYSE:CUBE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cubesmart (NYSE:CUBE) based on the price action in the company's shares. Today's price range of $32.41 and $32.44 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 Cubesmart may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cubesmart (NYSE:CUBE) is currently priced 5.2% above its average consensus analyst price target of $30.75. The stock should discover initial support at its 50-day moving average (MA) of $31.45 and subsequent support at its 200-day MA of $30.20.

CubeSmart is a self-administered and self-managed real estate company that owns, operates, acquires, and develops self-storage facilities in the United States.

Over the past year, Cubesmart has traded in a range of $27.19 to $33.18 and is now at $32.44, 19% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

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

Keywords: bearish inside day candle cubesmart

Ticker(s): CUBE