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

By Nick Russo

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 $30.99 and $31.26 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.

Equity One share prices have moved between a 52-week high of $33.46 and a 52-week low of $22.52 and are now trading 38% above that low price at $31.08 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.

Equity One (NYSE:EQY) defies analysts with a current price ($31.08) 11.5% above its average consensus price target of $27.50. Equity One shares have support at the 50-day moving average (MA) of $28.27 and additional support at the 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