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

By Nick Russo

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 $46.30 and $46.67 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.

In the past 52 weeks, shares of Apartment Investment & Management have traded between a low of $34.71 and a high of $46.76 and are now at $46.64, which is 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

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.

Apartment Investment & Management (NYSE:AIV) is currently priced 10.0% above its average consensus analyst price target of $41.99. The stock should find initial support at its 50-day moving average (MA) of $40.16 and further support at its 200-day MA of $38.64.

SmarTrend is tracking the current trend status for Apartment Investment & Management and will alert subscribers who have AIV in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle apartment investment & management

Ticker(s): AIV