• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Gaming And Leisu (NASDAQ:GLPI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gaming And Leisu (NASDAQ:GLPI) based on the price action in the company's shares. Today's price range of $36.14 and $36.57 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 Gaming And Leisu may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Gaming and Leisure Properties, Inc. owns and leases casinos and other entertainment facilities.

In the past 52 weeks, Gaming And Leisu share prices have been bracketed by a low of $29.32 and a high of $39.32 and are now at $36.34, 24% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 0.40% higher over the past week, respectively.

Potential upside of 8.0% exists for Gaming And Leisu, based on a current level of $36.34 and analysts' average consensus price target of $39.25. The stock should discover initial support at its 50-day moving average (MA) of $35.36 and subsequent support at its 200-day MA of $35.29.

SmarTrend is tracking the current trend status for Gaming And Leisu and will alert subscribers who have GLPI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle gaming and leisu

Ticker(s): GLPI