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Possible Bearish Inside Day Candle Pattern Detected for Xenia Hotels & R (NYSE:XHR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Xenia Hotels & R (NYSE:XHR) based on the price action in the company's shares. Yesterday's price range of $22.21 and $22.60 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 Xenia Hotels & R may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Xenia Hotels & Resorts, Inc. is a self-managed real estate investment trust based in Orlando, Florida, with hotels in various states and the District of Columbia. The Company also will have a majority interest in two hotels under development.

Xenia Hotels & R (NYSE:XHR) is currently priced 4.3% above its average consensus analyst price target of $21.33. The stock should discover initial support at its 200-day moving average (MA) of $16.70 and subsequent support at its 50-day MA of $15.43.

Xenia Hotels & R share prices have moved between a 52-week high of $22.76 and a 52-week low of $14.84 and closed yesterday at 50% above that low price at $22.29 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.8%.

SmarTrend recommended that subscribers consider buying shares of Xenia Hotels & R on April 26th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.83. Since that recommendation, shares of Xenia Hotels & R have risen 26.8%. We continue to monitor XHR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle xenia hotels & r

Ticker(s): XHR