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Possible Bullish Inside Day Candle Pattern Detected for Government Prope (NYSE:GOV)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Government Prope (NYSE:GOV) based on the price action in the company's shares. Yesterday's price range of $18.16 and $18.32 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 Government Prope may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Government Properties Income Trust is a real estate company formed to invest in properties that are majority leased to government tenants.

In the past 52 weeks, shares of Government Prope have traded between a low of $17.36 and a high of $24.61 and closed yesterday at $18.18, which is 5% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.8%.

Based on a current price of $18.18, Government Prope is currently 1.0% above its average consensus analyst price target of $18.00. Government Prope shares have support at the 50-day moving average (MA) of $17.33 and additional support at the 200-day MA of $16.18.

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

Keywords: bullish am inside day candle government prope

Ticker(s): GOV