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Possible Bullish Inside Day Candle Pattern Detected for Apple Hospitalit (NYSE:APLE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Apple Hospitalit (NYSE:APLE) based on the price action in the company's shares. Yesterday's price range of $16.05 and $16.11 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. Traders and investors interested in shares of Apple Hospitalit may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Apple Hospitalit share prices have been bracketed by a low of $13.81 and a high of $16.90 and closed yesterday at $16.09, 17% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Apple Hospitality REIT, Inc. operates as a real estate investment trust. The Company focuses on investment in hotels, guest rooms, and resorts. Apple Hospitality REIT invests in the United States.

Apple Hospitalit has overhead space with shares priced $16.09, or 17.5% below the average consensus analyst price target of $19.50. The stock should run into initial resistance at its 200-day moving average (MA) of $16.12 and subsequent resistance at its 50-day MA of $16.30.

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

Keywords: bullish am inside day candle apple hospitalit

Ticker(s): APLE