• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for American Homes-A (NYSE:AMH)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in American Homes-A (NYSE:AMH) based on the price action in the company's shares. Yesterday's price range of $26.38 and $26.56 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 Homes-A 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 Homes 4 Rent operates as an internally managed Maryland real estate investment trust focuses on acquiring, renovating, leasing, and operating single-family homes as rental properties.

Based on a current price of $26.48, American Homes-A is currently 8.6% above its average consensus analyst price target of $24.20. The stock should find initial support at its 50-day moving average (MA) of $26.08 and further support at its 200-day MA of $24.54.

American Homes-A share prices have moved between a 52-week high of $27.14 and a 52-week low of $18.91 and closed yesterday at 40% above that low price at $26.48 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%.

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

Keywords: bullish am inside day candle american homes-a

Ticker(s): AMH