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Possible Bearish Inside Day Candle Pattern Detected for Host Hotels & Re (NYSE:HST)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Host Hotels & Re (NYSE:HST) based on the price action in the company's shares. Yesterday's price range of $17.47 and $17.70 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. Owners of Host Hotels & Re may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Host Hotels & Re has traded in a range of $15.51 to $20.35 and closed yesterday at $17.49, 13% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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.

There is potential upside of 20.7% for shares of Host Hotels & Re based on a current price of $17.49 and an average consensus analyst price target of $21.12. Host Hotels & Re shares should encounter resistance at the 200-day moving average (MA) of $17.92 and support at the 50-day MA of $16.88.

SmarTrend is tracking the current trend status for Host Hotels & Re and will alert subscribers who have HST in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle host hotels & re

Ticker(s): HST