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Possible Bearish Inside Day Candle Pattern Detected for La Quinta Holdin (NYSE:LQ)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in La Quinta Holdin (NYSE:LQ) based on the price action in the company's shares. Today's price range of $20.25 and $20.55 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 La Quinta Holdin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

La Quinta Holdings Inc is the owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments under the La Quinta brand.

La Quinta Holdin (NYSE:LQ) is currently priced 8.2% above its average consensus analyst price target of $18.81. La Quinta Holdin shares have support at the 200-day moving average (MA) of $14.68 and additional support at the 50-day MA of $11.97.

Over the past year, La Quinta Holdin has traded in a range of $9.73 to $21.06 and is now at $20.49, 111% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of La Quinta Holdin on December 8th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.29. Since that recommendation, shares of La Quinta Holdin have risen 10.4%. We continue to monitor LQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle la quinta holdin

Ticker(s): LQ