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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Medical Properties Trust (NYSE:MPW) based on the price action in the company's shares. Today's price range of $12.31 and $12.50 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 Properties Trust may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 7.5% for shares of Medical Properties Trust based on a current price of $12.39 and an average consensus analyst price target of $13.32. The stock should hit resistance at its 50-day moving average (MA) of $12.80, as well as support at its 200-day MA of $11.81.

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.

In the past 52 weeks, shares of Medical Properties Trust have traded between a low of $9.61 and a high of $15.91 and are now at $12.39, which is 29% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 1.79% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Medical Properties Trust on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $14.48. Since that call, shares of Medical Properties Trust have fallen 13.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle medical properties trust

Ticker(s): MPW