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Possible Bearish Inside Day Candle Pattern Detected for Pebblebrook Hote (NYSE:PEB)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pebblebrook Hote (NYSE:PEB) based on the price action in the company's shares. Yesterday's price range of $26.11 and $26.45 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 Pebblebrook Hote may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Pebblebrook Hote (NYSE:PEB) has potential upside of 47.4% based on a current price of $26.20 and analysts' consensus price target of $38.61. The stock should find initial resistance at its 50-day moving average (MA) of $26.55 and further resistance at its 200-day MA of $28.86.

Over the past year, Pebblebrook Hote has traded in a range of $24.51 to $37.09 and closed yesterday at $26.20, 7% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.4%.

Pebblebrook Hotel Trust is an internally managed hotel investment company that acquires and invests in hotel properties located in large United States cities, with an emphasis on major coastal markets. The Trust may also invest in resort properties located near urban target markets and unique destination markets.

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

Keywords: bearish am inside day candle pebblebrook hote

Ticker(s): PEB