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Possible Bearish Inside Day Candle Pattern Detected for Kimco Realty (NYSE:KIM)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kimco Realty (NYSE:KIM) based on the price action in the company's shares. Today's price range of $30.46 and $30.65 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 Kimco Realty may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Kimco Realty Corporation is a real estate investment trust (REIT). The Company owns and operates neighborhood and community shopping centers with locations in multiple states as well as Puerto Rico, Canada, Mexico, Chile, Brazil and Peru. The Company also provides management services for shopping centers owned by affiliated entities and various real estate joint ventures.

Kimco Realty (NYSE:KIM) is currently priced 7.8% above its average consensus analyst price target of $28.19. The stock should find initial support at its 50-day moving average (MA) of $28.15 and further support at its 200-day MA of $26.14.

In the past 52 weeks, shares of Kimco Realty have traded between a low of $22.07 and a high of $32.24 and are now at $30.58, which is 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

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

Keywords: bearish inside day candle kimco realty

Ticker(s): KIM