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Possible Bearish Inside Day Candle Pattern Detected for NorthStar Realty Finance (NYSE:NRF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in NorthStar Realty Finance (NYSE:NRF) based on the price action in the company's shares. Today's price range of $13.63 and $13.80 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 NorthStar Realty Finance may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 123.7% for shares of NorthStar Realty Finance based on a current price of $13.67 and an average consensus analyst price target of $30.58. The stock should hit resistance at its 200-day moving average (MA) of $17.44, as well as support at its 50-day MA of $12.87.

NorthStar Realty Finance Corp. is an internally-managed real estate company. The Company makes investments in real estate debt, real estate securities, and net lease properties.

NorthStar Realty Finance share prices have moved between a 52-week high of $32.06 and a 52-week low of $8.38 and are now trading 63% above that low price at $13.67 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of NorthStar Realty Finance on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.64. Since that recommendation, shares of NorthStar Realty Finance have risen 9.4%. We continue to monitor NRF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle northstar realty finance

Ticker(s): NRF