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

By David Diaz

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 $14.32 and $14.49 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.

In the past 52 weeks, shares of Istar Inc have traded between a low of $7.84 and a high of $14.53 and closed yesterday at $14.38, which is 83% above that low price. The 200-day and 50-day moving averages have moved 0.79% higher and 0.58% higher over the past week, respectively.

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 $14.38, Istar Inc is currently 13.0% above its average consensus analyst price target of $12.50. Istar Inc shares have support at the 50-day moving average (MA) of $13.25 and additional support at the 200-day MA of $11.96.

SmarTrend recommended that subscribers consider buying shares of Istar Inc on May 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.97. Since that recommendation, shares of Istar Inc have risen 61.9%. We continue to monitor STAR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle istar inc

Ticker(s): STAR