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Possible Bearish Inside Day Candle Pattern Detected for Starwood Propert (NYSE:STWD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Starwood Propert (NYSE:STWD) based on the price action in the company's shares. Today's price range of $23.08 and $23.08 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 Starwood Propert may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Starwood Property Trust, Inc. is a real estate investment company. The Company originates and invests in commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities, and other commercial real estate-related debt investments. Starwood may also invest in residential mortgage loans and residential mortgage-backed securities.

In the past 52 weeks, Starwood Propert share prices have been bracketed by a low of $19.16 and a high of $23.37 and are now at $23.08, 20% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Starwood Propert has overhead space with shares priced $23.08, or 2.8% below the average consensus analyst price target of $23.75. The stock should find initial support at its 50-day moving average (MA) of $22.75 and further support at its 200-day MA of $22.09.

SmarTrend recommended that subscribers consider buying shares of Starwood Propert on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.91. Since that recommendation, shares of Starwood Propert have risen 10.5%. We continue to monitor STWD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle starwood propert

Ticker(s): STWD