• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Store Capital (NYSE:STOR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Store Capital (NYSE:STOR) based on the price action in the company's shares. Yesterday's price range of $38.96 and $39.12 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 Store Capital may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE Capital is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in 2,389 property locations, substantially all of which are profit centers, in all 50 states.

Store Capital (NYSE:STOR) is currently priced 29.2% above its average consensus analyst price target of $27.67. Store Capital shares have support at the 50-day moving average (MA) of $37.95 and additional support at the 200-day MA of $34.69.

In the past 52 weeks, shares of Store Capital have traded between a low of $27.35 and a high of $40.78 and closed yesterday at $39.10, which is 43% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.7%.

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

Keywords: bearish am inside day candle store capital

Ticker(s): STOR