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

By Shiri Gupta

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. Today's price range of $8.66 and $8.76 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 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 14.3% exists for Cousins Prop, based on a current level of $8.66 and analysts' average consensus price target of $9.90. Cousins Prop shares should first meet resistance at the 200-day moving average (MA) of $9.53 and find additional resistance at the 50-day MA of $10.02.

Over the past year, Cousins Prop has traded in a range of $7.09 to $11.40 and is now at $8.66, 22% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SmarTrend is tracking the current trend status for Cousins Prop and will alert subscribers who have CUZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle cousins prop

Ticker(s): CUZ