• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Vornado Rlty Tst (NYSE:VNO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Vornado Rlty Tst (NYSE:VNO) based on the price action in the company's shares. Today's price range of $67.74 and $68.06 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 Vornado Rlty Tst may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Vornado Rlty Tst share prices have been bracketed by a low of $58.60 and a high of $70.54 and are now at $67.74, 16% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 0.26% higher over the past week, respectively.

There is potential upside of 15.8% for shares of Vornado Rlty Tst based on a current price of $67.74 and an average consensus analyst price target of $78.42. The stock should find initial support at its 50-day moving average (MA) of $65.74 and further support at its 200-day MA of $64.95.

Vornado Realty Trust is a fully-integrated real estate investment trust. The Trust owns, manages, and leases office properties in New York City, Chicago and San Francisco.

SmarTrend recommended that subscribers consider buying shares of Vornado Rlty Tst on December 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.34. Since that recommendation, shares of Vornado Rlty Tst have risen 3.4%. We continue to monitor VNO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle vornado rlty tst

Ticker(s): VNO