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Possible Bearish Inside Day Candle Pattern Detected for Cubesmart (NYSE:CUBE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cubesmart (NYSE:CUBE) based on the price action in the company's shares. Today's price range of $25.68 and $26.61 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. Owners of Cubesmart may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cubesmart (NYSE:CUBE) has potential upside of 19.2% based on a current price of $25.80 and analysts' consensus price target of $30.75. The stock should find initial resistance at its 50-day moving average (MA) of $26.40 and further resistance at its 200-day MA of $31.27.

In the past 52 weeks, Cubesmart share prices have been bracketed by a low of $19.61 and a high of $36.32 and are now at $25.80, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.6% while the 200-day MA has slid 0.8%.

CubeSmart is a self-administered and self-managed real estate company that owns, operates, acquires, and develops self-storage facilities in the United States.

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

Keywords: bearish inside day candle cubesmart

Ticker(s): CUBE