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Possible Bearish Inside Day Candle Pattern Detected for Equity One (NYSE:EQY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Equity One (NYSE:EQY) based on the price action in the company's shares. Today's price range of $29.93 and $30.22 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 Equity One may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Equity One, Inc. is a self-administered, self-managed real estate investment trust. The Trust principally acquires, renovates, develops, and manages community and neighborhood shopping centers anchored by national and regional supermarket chains. Equity One's portfolio currently consists of properties primarily located in metropolitan areas of Florida and Texas.

Over the past year, Equity One has traded in a range of $22.52 to $30.61 and is now at $30.20, 34% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

Equity One (NYSE:EQY) is currently priced 8.9% above its average consensus analyst price target of $27.50. The stock should discover initial support at its 50-day moving average (MA) of $28.27 and subsequent support at its 200-day MA of $26.45.

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

Keywords: bearish inside day candle Equity One

Ticker(s): EQY