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Possible Bullish Inside Day Candle Pattern Detected for Medical Properties Trust (NYSE:MPW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Medical Properties Trust (NYSE:MPW) based on the price action in the company's shares. Today's price range of $13.20 and $13.29 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 Medical Properties 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.

Medical Properties Trust Inc. is a self-advised real estate investment trust formed to acquire and develop net-leased healthcare facilities. These facilities include inpatient rehabilitation hospitals, long-term acute care hospitals, regional acute care hospitals, ambulatory surgery centers, and other single-discipline healthcare facilities such as heart hospitals.

Medical Properties Trust (NYSE:MPW) has potential upside of 1.9% based on a current price of $13.24 and analysts' consensus price target of $13.50. Medical Properties Trust shares have support at the 50-day moving average (MA) of $12.80 and additional support at the 200-day MA of $11.81.

In the past 52 weeks, Medical Properties Trust share prices have been bracketed by a low of $9.61 and a high of $15.91 and are now at $13.24, 38% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.8%.

SmarTrend is tracking the current trend status for Medical Properties Trust and will alert subscribers who have MPW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle medical properties trust

Ticker(s): MPW