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 $18.03 and $18.38 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.
Government Propertiesome Trust (NYSE:GOV) is currently priced 10.3% above its average consensus analyst price target of $16.25. Government Propertiesome Trust shares have support at the 50-day moving average (MA) of $17.33 and additional support at the 200-day MA of $16.18.
Government Propertiesome Trust share prices have moved between a 52-week high of $24.61 and a 52-week low of $12.33 and closed yesterday at 47% above that low price at $18.12 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.8% while the 200-day MA has remained constant.
Government Properties Income Trust is a real estate company formed to invest in properties that are majority leased to government tenants.
SmarTrend recommended that its subscribers protect gains by selling shares of Government Propertiesome Trust on September 13th, 2016 by issuing a Downtrend alert when the shares were trading at $22.40. Since that call, shares of Government Propertiesome Trust have fallen 19.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: bullish am inside day candle government propertiesome trust