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

By Shiri Gupta

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 $16.61 and $16.73 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.

Medical Properti (NYSE:MPW) defies analysts with a current price ($16.64) 20.2% above its average consensus price target of $13.28. Medical Properti shares have support at the 50-day moving average (MA) of $14.81 and additional support at the 200-day MA of $13.76.

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.

Over the past year, Medical Properti has traded in a range of $11.82 to $16.74 and is now at $16.64, 41% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Medical Properti on May 31st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.59. Since that recommendation, shares of Medical Properti have risen 23.2%. We continue to monitor MPW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle medical properti

Ticker(s): MPW