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Possible Bearish Inside Day Candle Pattern Detected for Apartment Investment & Management (NYSE:AIV)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Apartment Investment & Management (NYSE:AIV) based on the price action in the company's shares. Today's price range of $46.14 and $46.56 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 Apartment Investment & Management 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 $46.34, Apartment Investment & Management is currently 9.4% above its average consensus analyst price target of $41.99. Apartment Investment & Management shares have support at the 50-day moving average (MA) of $40.16 and additional support at the 200-day MA of $38.64.

Apartment Investment & Management Company is a self-administered and self-managed real estate investment trust. The trust owns a geographically diversified portfolio of multifamily apartment properties in the United States, the District of Columbia, and Puerto Rico. Apartment Investment also provides property management and asset management services.

Over the past year, Apartment Investment & Management has traded in a range of $34.71 to $46.95 and is now at $46.34, 34% above that low. The 200-day and 50-day moving averages have moved 0.11% higher and 1.12% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Apartment Investment & Management. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Apartment Investment & Management in search of a potential trend change.

Keywords: bearish inside day candle apartment investment & management

Ticker(s): AIV