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Possible Bearish Inside Day Candle Pattern Detected for Istar Inc (NYSE:STAR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Istar Inc (NYSE:STAR) based on the price action in the company's shares. Yesterday's price range of $12.68 and $12.80 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 Istar Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

iStar Inc. operates as a real estate investment company. The Company finances, invests in, and develops real estate and real estate related projects, as well as provides corporate net lease financing services. iStar serves customers worldwide.

Based on a current price of $12.71, Istar Inc is currently 1.7% above its average consensus analyst price target of $12.50. The stock should find resistance at its 50-day moving average (MA) of $12.77, as well as support at its 200-day MA of $11.19.

In the past 52 weeks, shares of Istar Inc have traded between a low of $7.84 and a high of $13.75 and closed yesterday at $12.71, which is 62% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle istar inc

Ticker(s): STAR