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

By Shiri Gupta

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 $17.32 and $17.42 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 open-air shopping centers with multiple locations in the United States and Puerto Rico. Kimco Realty owns properties which are usually anchored by a supermarket and big box store that sells day-to-day necessities.

In the past 52 weeks, shares of Kimco Realty have traded between a low of $13.16 and a high of $20.63 and are now at $17.34, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Kimco Realty (NYSE:KIM) is currently priced 5.1% above its average consensus analyst price target of $16.45. Kimco Realty shares have support at the 50-day moving average (MA) of $16.77 and additional support at the 200-day MA of $16.04.

SmarTrend recommended that subscribers consider buying shares of Kimco Realty on May 22nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.89. Since that recommendation, shares of Kimco Realty have risen 17.4%. We continue to monitor KIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle kimco realty

Ticker(s): KIM