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

By David Diaz

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 $22.79 and $22.87 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.

American Homes-A (NYSE:AMH) has potential upside of 6.1% based on a current price of $22.80 and analysts' consensus price target of $24.20. American Homes-A shares have support at the 50-day moving average (MA) of $21.23 and additional support at the 200-day MA of $20.80.

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.

In the past 52 weeks, shares of American Homes-A have traded between a low of $18.39 and a high of $23.23 and are now at $22.80, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

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