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

By David Diaz

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 $60.88 and $61.77 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.

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.

In the past 52 weeks, shares of Liberty Prop have traded between a low of $39.50 and a high of $62.53 and closed yesterday at $61.03, which is 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.4%.

Liberty Prop (NYSE:LPT) is currently priced 26.7% above its average consensus analyst price target of $44.71. The stock should find initial support at its 50-day moving average (MA) of $60.19 and further support at its 200-day MA of $52.88.

SmarTrend recommended that subscribers consider buying shares of Liberty Prop on July 24th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.77. Since that recommendation, shares of Liberty Prop have risen 17.2%. 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