• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Cousins Prop (NYSE:CUZ)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cousins Prop (NYSE:CUZ) based on the price action in the company's shares. Yesterday's price range of $9.15 and $9.28 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 Cousins Prop may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cousins Properties, Inc. is a real estate investment trust. The Company derives its revenues from the acquisition, financing, development, management and leasing of commercial properties. These retail and office properties are concentrated in the Southern United States.

Potential upside of 7.0% exists for Cousins Prop, based on a current level of $9.25 and analysts' average consensus price target of $9.90. The stock should discover initial support at its 200-day moving average (MA) of $8.90 and subsequent support at its 50-day MA of $8.37.

Over the past year, Cousins Prop has traded in a range of $7.53 to $9.88 and closed yesterday at $9.25, 23% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.

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

Keywords: bearish am inside day candle cousins prop

Ticker(s): CUZ