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Possible Bearish Inside Day Candle Pattern Detected for Hersha Hospital (NYSE:HT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hersha Hospital (NYSE:HT) based on the price action in the company's shares. Yesterday's price range of $14.25 and $14.44 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 Hersha Hospital may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hersha Hospitality Trust is a real estate investment trust (REIT) that owns and operates upscale and mid-scale limited service and extended-stay hotels in established metropolitan markets. The Trust owns and operates hotels in multiple states throughout the Northeastern United States.

Hersha Hospital (NYSE:HT) has potential upside of 31.3% based on a current price of $14.29 and analysts' consensus price target of $18.75. The stock should find initial resistance at its 50-day moving average (MA) of $14.39 and further resistance at its 200-day MA of $16.61.

Over the past year, Hersha Hospital has traded in a range of $13.39 to $20.38 and closed yesterday at $14.29, 7% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle hersha hospital

Ticker(s): HT