• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for American Campus (NYSE:ACC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in American Campus (NYSE:ACC) based on the price action in the company's shares. Yesterday's price range of $46.35 and $46.94 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 American Campus may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

American Campus (NYSE:ACC) is currently priced 8.0% above its average consensus analyst price target of $42.82. The stock should find initial resistance at its 200-day moving average (MA) of $47.05 and further resistance at its 50-day MA of $48.05.

In the past 52 weeks, shares of American Campus have traded between a low of $39.37 and a high of $50.82 and closed yesterday at $46.54, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

American Campus Communities, Inc. owns and operates on and off-campus housing properties within close proximity to colleges and universities. The Company provides development and construction services for student housing properties owned by universities, charitable foundations and others. American Campus Communities also provides third party management and leasing services.

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

Keywords: bullish am inside day candle american campus

Ticker(s): ACC