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Possible Bullish Inside Day Candle Pattern Detected for Hersha Hospitality Trust (AMEX:HT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hersha Hospitality Trust (AMEX:HT) based on the price action in the company's shares. Today's price range of $15.81 and $16.49 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 Hersha Hospitality 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.

Hersha Hospitality Trust share prices have moved between a 52-week high of $28.60 and a 52-week low of $15.36 and are now trading 6% above that low price at $16.31 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.8%.

Hersha Hospitality Trust is a real estate investment trust (REIT) that owns and operates upscale and mid-scale limited service and extended-stay hotels in established metropolitan markets. The trust owns and operates hotels in multiple states throughout the Northeastern United States.

Hersha Hospitality Trust has overhead space with shares priced $16.31, or 40.7% below the average consensus analyst price target of $27.50. Hersha Hospitality Trust shares should first meet resistance at the 50-day moving average (MA) of $20.65 and find additional resistance at the 200-day MA of $22.30.

SmarTrend recommended that its subscribers protect gains by selling shares of Hersha Hospitality Trust on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $19.25. Since that call, shares of Hersha Hospitality Trust have fallen 18.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle amex:ht hersha hospitality trust

Ticker(s): HT