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Possible Bearish Inside Day Candle Pattern Detected for Medical Properti (NYSE:MPW)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Medical Properti (NYSE:MPW) based on the price action in the company's shares. Today's price range of $17.56 and $17.80 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 Medical Properti may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

Based on a current price of $17.66, Medical Properti is currently 24.8% above its average consensus analyst price target of $13.28. The stock should hit resistance at its 200-day moving average (MA) of $19.50, as well as support at its 50-day MA of $17.31.

In the past 52 weeks, shares of Medical Properti have traded between a low of $12.35 and a high of $24.29 and are now at $17.66, which is 43% 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 declined 3.6%.

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

Keywords: bearish inside day candle medical properti

Ticker(s): MPW