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Possible Bearish Inside Day Candle Pattern Detected for American Homes-A (NYSE:AMH)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in American Homes-A (NYSE:AMH) based on the price action in the company's shares. Today's price range of $23.97 and $23.97 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 American Homes-A 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, American Homes-A has traded in a range of $18.91 to $24.45 and is now at $23.97, 27% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.2%.

American Homes-A (NYSE:AMH) has potential upside of 1.0% based on a current price of $23.97 and analysts' consensus price target of $24.20. The stock should discover initial support at its 50-day moving average (MA) of $23.21 and subsequent support at its 200-day MA of $21.88.

American Homes 4 Rent is an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, renovating, leasing and operating single-family homes as rental properties.

SmarTrend is tracking the current trend status for American Homes-A and will alert subscribers who have AMH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle american homes-a

Ticker(s): AMH