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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. Yesterday's price range of $26.34 and $26.59 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 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.

Based on a current price of $26.48, American Homes-A is currently 8.6% above its average consensus analyst price target of $24.20. American Homes-A shares have support at the 50-day moving average (MA) of $26.09 and additional support at the 200-day MA of $25.05.

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

Over the past year, American Homes-A has traded in a range of $20.52 to $27.14 and closed yesterday at $26.48, 29% above that low. The 200-day and 50-day moving averages have moved 0.23% higher and 0.01% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of American Homes-A on August 22nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.51. Since that recommendation, shares of American Homes-A have risen 4.3%. We continue to monitor AMH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle american homes-a

Ticker(s): AMH