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Possible Bullish Inside Day Candle Pattern Detected for Cubesmart (NYSE:CUBE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cubesmart (NYSE:CUBE) based on the price action in the company's shares. Yesterday's price range of $30.50 and $30.75 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. Traders and investors interested in shares of Cubesmart may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

CubeSmart is a self-administered and self-managed real estate investment trust.

Cubesmart (NYSE:CUBE) has potential upside of 0.2% based on a current price of $30.69 and analysts' consensus price target of $30.75. The stock should find initial resistance at its 200-day moving average (MA) of $33.13 and further resistance at its 50-day MA of $34.14.

In the past 52 weeks, shares of Cubesmart have traded between a low of $27.97 and a high of $36.32 and closed yesterday at $30.69, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

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

Keywords: bullish am inside day candle cubesmart

Ticker(s): CUBE