• Return to Headlines

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

By David Diaz

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 $20.50 and $20.82 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-A (NYSE:AMH) has potential upside of 17.6% based on a current price of $20.58 and analysts' consensus price target of $24.20. American Homes-A shares should encounter resistance at the 200-day moving average (MA) of $21.06 and support at the 50-day MA of $20.54.

American Homes 4 Rent is an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, renovating, leasing and operating single-family homes as rental properties.

In the past 52 weeks, shares of American Homes-A have traded between a low of $18.39 and a high of $23.34 and closed yesterday at $20.58, which is 12% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend is monitoring the recent change of momentum in American Homes-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of American Homes-A in search of a potential trend change.

Keywords: bullish am inside day candle american homes-a

Ticker(s): AMH