• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for FelCor Lodging Trust (NYSE:FCH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in FelCor Lodging Trust (NYSE:FCH) based on the price action in the company's shares. Today's price range of $6.91 and $7.04 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. Traders and investors interested in shares of FelCor Lodging 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.

In the past 52 weeks, FelCor Lodging Trust share prices have been bracketed by a low of $5.47 and a high of $11.25 and are now at $7.01, 28% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.2%.

FelCor Lodging Trust Inc. is a real estate investment trust ("REIT") focusing on upscale and full service hotels. The Company owns interests in hotels throughout the United States and Canada.

FelCor Lodging Trust has overhead space with shares priced $7.01, or 12.4% below the average consensus analyst price target of $8.00. The stock should find initial resistance at its 50-day moving average (MA) of $7.72 and further resistance at its 200-day MA of $7.74.

SmarTrend recommended that its subscribers protect gains by selling shares of FelCor Lodging Trust on January 24th, 2017 by issuing a Downtrend alert when the shares were trading at $7.48. Since that call, shares of FelCor Lodging Trust have fallen 7.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle felcor lodging trust

Ticker(s): FCH