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Possible Bullish Inside Day Candle Pattern Detected for Entertainment Properties Trust (NYSE:EPR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Entertainment Properties Trust (NYSE:EPR) based on the price action in the company's shares. Yesterday's price range of $79.69 and $80.64 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 Entertainment Properties Trust may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Entertainment Properties Trust is a real estate investment trust. The Company acquires and develops properties leased to entertainment and entertainment related business operators generally under long-term triple net leases. The Company plans to focus primarily on megaplex theaters and entertainment themed retail centers.

Entertainment Properties Trust (NYSE:EPR) defies analysts with a current price ($80.29) 23.0% above its average consensus price target of $61.83. Entertainment Properties Trust shares have support at the 50-day moving average (MA) of $65.04 and additional support at the 200-day MA of $58.14.

Entertainment Properties Trust share prices have moved between a 52-week high of $81.63 and a 52-week low of $49.24 and closed yesterday at 63% above that low price at $80.29 per share. The 200-day and 50-day moving averages have moved 0.40% higher and 0.74% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Entertainment Properties Trust on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.74. Since that recommendation, shares of Entertainment Properties Trust have risen 30.0%. We continue to monitor EPR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle entertainment properties trust

Ticker(s): EPR