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Possible Bullish Inside Day Candle Pattern Detected for Host Hotels & Resorts (NYSE:HST)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Host Hotels & Resorts (NYSE:HST) based on the price action in the company's shares. Today's price range of $17.97 and $18.18 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 Host Hotels & Resorts may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 7.4% exists for Host Hotels & Resorts, based on a current level of $18.16 and analysts' average consensus price target of $19.50. The stock should find initial support at its 200-day moving average (MA) of $16.41 and further support at its 50-day MA of $16.05.

In the past 52 weeks, Host Hotels & Resorts share prices have been bracketed by a low of $12.17 and a high of $21.40 and are now at $18.16, 49% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.5%.

Host Hotels & Resorts Inc. is a real estate trust. The trust which owns or holds controlling interests in upscale and luxury full-service hotel lodging properties in areas that include Washington, D.C., Toronto and Calgary, Canada, Mexico City, Mexico and Santiago, Chile, as well as Italy, Spain, Poland, Belgium, The Netherlands and the United Kingdom.

SmarTrend recommended that subscribers consider buying shares of Host Hotels & Resorts on June 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.68. Since that recommendation, shares of Host Hotels & Resorts have risen 7.7%. We continue to monitor HST for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Host Hotels & Resorts

Ticker(s): HST