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Possible Bearish Inside Day Candle Pattern Detected for Realogy Holdings (NYSE:RLGY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Realogy Holdings (NYSE:RLGY) based on the price action in the company's shares. Today's price range of $11.63 and $11.63 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 Realogy Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Realogy Holdings Corporation operates as a holding company. The Company through its subsidiaries, provides real estate, franchising, brokerage services, relocation services, and title and settlement services. Realogy Holdings offers its services throughout the United States and Internationally.

In the past 52 weeks, Realogy Holdings share prices have been bracketed by a low of $11.04 and a high of $28.07 and are now at $11.63, 5% above that low price. The 200-day and 50-day moving averages have moved 1.55% lower and 3.02% lower over the past week, respectively.

Realogy Holdings (NYSE:RLGY) has potential upside of 163.3% based on a current price of $11.63 and analysts' consensus price target of $30.62. The stock should run into initial resistance at its 50-day moving average (MA) of $15.69 and subsequent resistance at its 200-day MA of $19.15.

SmarTrend recommended that its subscribers protect gains by selling shares of Realogy Holdings on January 24th, 2019 by issuing a Downtrend alert when the shares were trading at $16.35. Since that call, shares of Realogy Holdings have fallen 27.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle realogy holdings

Ticker(s): RLGY