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

By James Quinn

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. Yesterday's price range of $30.46 and $30.67 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 Kimco Realty may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $30.58, Kimco Realty is currently 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.

Kimco Realty share prices have moved between a 52-week high of $32.24 and a 52-week low of $22.07 and closed yesterday at 39% above that low price at $30.58 per share. 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%.

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.

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 am inside day candle kimco realty

Ticker(s): KIM