Possible Bullish Inside Day Candle Pattern Detected for Government Propertiesome Trust (NYSE:GOV)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Government Propertiesome Trust (NYSE:GOV) based on the price action in the company's shares. Yesterday's price range of $17.86 and $18.13 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 Propertiesome 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.
Based on a current price of $18.08, Government Propertiesome Trust is currently 10.1% above its average consensus analyst price target of $16.25. The stock should discover initial support at its 50-day moving average (MA) of $16.36 and subsequent support at its 200-day MA of $16.18.
Government Properties Income Trust is a real estate company formed to invest in properties that are majority leased to government tenants.
Over the past year, Government Propertiesome Trust has traded in a range of $12.33 to $22.57 and closed yesterday at $18.08, 47% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 3.1%.
SmarTrend recommended that subscribers consider buying shares of Government Propertiesome Trust on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.73. Since that recommendation, shares of Government Propertiesome Trust have risen 22.7%. We continue to monitor GOV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish am inside day candle government propertiesome trust