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Possible Bearish Inside Day Candle Pattern Detected for Liberty Prop (NYSE:LPT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Liberty Prop (NYSE:LPT) based on the price action in the company's shares. Yesterday's price range of $48.72 and $48.97 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 Liberty Prop may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $48.93, Liberty Prop is currently 8.6% above its average consensus analyst price target of $44.71. Liberty Prop shares have support at the 50-day moving average (MA) of $48.32 and additional support at the 200-day MA of $44.75.

In the past 52 weeks, Liberty Prop share prices have been bracketed by a low of $39.12 and a high of $49.77 and closed yesterday at $48.93, 25% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Liberty Property Trust is a self-administered and self-managed real estate investment trust. The Trust's industrial properties consist of a variety of warehouse, distribution, service, assembly, light manufacturing and research and development facilities. Liberty Property Trust serves customers in the State of Pennsylvania.

SmarTrend recommended that subscribers consider buying shares of Liberty Prop on January 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.22. Since that recommendation, shares of Liberty Prop have risen 13.4%. We continue to monitor LPT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle liberty prop

Ticker(s): LPT