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Possible Bearish Inside Day Candle Pattern Detected for Medical Properti (NYSE:MPW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Medical Properti (NYSE:MPW) based on the price action in the company's shares. Today's price range of $17.92 and $17.96 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 Medical Properti 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 $17.92, Medical Properti is currently 25.9% above its average consensus analyst price target of $13.28. The stock should hit resistance at its 50-day moving average (MA) of $18.06, as well as support at its 200-day MA of $17.28.

In the past 52 weeks, shares of Medical Properti have traded between a low of $13.90 and a high of $18.92 and are now at $17.92, which is 29% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

Medical Properties Trust Inc. is a self-advised real estate investment trust formed to acquire and develop net-leased healthcare facilities. These facilities include inpatient rehabilitation hospitals, long-term acute care hospitals, regional acute care hospitals, ambulatory surgery centers, and other single-discipline healthcare facilities such as heart hospitals.

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

Keywords: bearish inside day candle medical properti

Ticker(s): MPW