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Possible Bullish Inside Day Candle Pattern Detected for Hudson Pacific P (NYSE:HPP)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hudson Pacific P (NYSE:HPP) based on the price action in the company's shares. Yesterday's price range of $33.70 and $33.91 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 Hudson Pacific P may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 10.9% for shares of Hudson Pacific P based on a current price of $33.87 and an average consensus analyst price target of $37.56. The stock should hit resistance at its 50-day moving average (MA) of $34.55, as well as support at its 200-day MA of $32.37.

In the past 52 weeks, shares of Hudson Pacific P have traded between a low of $27.12 and a high of $36.06 and closed yesterday at $33.87, which is 25% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Hudson Pacific Properties Inc. is a real estate company focusing on owning, operating, and acquiring office properties. The Company focuses on opportunities in Northern and Southern California.

SmarTrend is tracking the current trend status for Hudson Pacific P and will alert subscribers who have HPP in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle hudson pacific p

Ticker(s): HPP