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Possible Bearish Inside Day Candle Pattern Detected for Gladstone Commer (NASDAQ:GOOD)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gladstone Commer (NASDAQ:GOOD) based on the price action in the company's shares. Yesterday's price range of $21.94 and $22.23 is within the prior day'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 Gladstone Commer may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Gladstone Commercial Corporation was created to invest in and own net leased industrial and commercial real estate property and making long-term industrial and commercial mortgage loans. The Company is actively seeking and evaluating properties for potential acquisition and mortgage financing.

In the past 52 weeks, shares of Gladstone Commer have traded between a low of $19.02 and a high of $23.98 and closed yesterday at $22.00, which is 16% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.

Based on a current price of $22.00, Gladstone Commer is currently 10.6% above its average consensus analyst price target of $19.67. Gladstone Commer shares should encounter resistance at the 50-day moving average (MA) of $22.32 and support at its 200-day MA of $21.98.

SmarTrend is tracking the current trend status for Gladstone Commer and will alert subscribers who have GOOD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle gladstone commer

Ticker(s): GOOD