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Possible Bullish Inside Day Candle Pattern Detected for Acadia Realty Trust (NYSE:AKR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Acadia Realty Trust (NYSE:AKR) based on the price action in the company's shares. Yesterday's price range of $27.53 and $28.00 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. Traders and investors interested in shares of Acadia Realty Trust may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Acadia Realty Trust is a fully integrated and self-managed real estate investment trust. The trust specializes in the acquisition, redevelopment and operation of shopping centers which are anchored by grocery and value-oriented retail. Acadia is headquartered in White Plains, NY.

Acadia Realty Trust share prices have moved between a 52-week high of $38.01 and a 52-week low of $27.49 and closed yesterday at 1% above that low price at $27.63 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

Acadia Realty Trust has overhead space with shares priced $27.63, or 24.0% below the average consensus analyst price target of $36.33. The stock should find initial resistance at its 200-day moving average (MA) of $32.53 and further resistance at its 50-day MA of $34.11.

SmarTrend recommended that its subscribers protect gains by selling shares of Acadia Realty Trust on April 27th, 2017 by issuing a Downtrend alert when the shares were trading at $29.90. Since that call, shares of Acadia Realty Trust have fallen 8.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle acadia realty trust

Ticker(s): AKR