• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Empire State Rea (NYSE:ESRT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Empire State Rea (NYSE:ESRT) based on the price action in the company's shares. Today's price range of $15.64 and $15.67 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 Empire State Rea 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, Empire State Rea share prices have been bracketed by a low of $13.66 and a high of $17.86 and are now at $15.67, 15% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 0.04% lower over the past week, respectively.

Empire State Realty Trust Inc. is a real estate investment trust. The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area.

Potential upside of 26.9% exists for Empire State Rea, based on a current level of $15.67 and analysts' average consensus price target of $19.89. The stock should hit resistance at its 200-day moving average (MA) of $15.85, as well as support at its 50-day MA of $15.66.

SmarTrend is tracking the current trend status for Empire State Rea and will alert subscribers who have ESRT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle empire state rea

Ticker(s): ESRT