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Possible Bullish Inside Day Candle Pattern Detected for Gaming And Leisu (NASDAQ:GLPI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gaming And Leisu (NASDAQ:GLPI) based on the price action in the company's shares. Yesterday's price range of $39.17 and $39.42 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 Gaming And Leisu may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

Gaming And Leisu (NASDAQ:GLPI) defies analysts with a current price ($39.28) 0.1% above its average consensus price target of $39.25. The stock should discover initial support at its 50-day moving average (MA) of $38.96 and subsequent support at its 200-day MA of $35.89.

In the past 52 weeks, Gaming And Leisu share prices have been bracketed by a low of $31.19 and a high of $40.69 and closed yesterday at $39.28, 26% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

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

Keywords: bullish am inside day candle gaming and leisu

Ticker(s): GLPI