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Possible Bullish Inside Day Candle Pattern Detected for Apartment Invest (NYSE:AIV)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Apartment Invest (NYSE:AIV) based on the price action in the company's shares. Yesterday's price range of $38.15 and $38.75 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 Apartment Invest may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Apartment Invest share prices have moved between a 52-week high of $47.91 and a 52-week low of $37.97 and closed yesterday at 1% above that low price at $38.28 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

Apartment Investment & Management Company is a self-administered and self-managed real estate investment trust. The trust owns a geographically diversified portfolio of multifamily apartment properties in the United States, the District of Columbia, and Puerto Rico. Apartment Investment also provides property management and asset management services.

Apartment Invest has overhead space with shares priced $38.28, or 18.0% below the average consensus analyst price target of $46.67. The stock should run into initial resistance at its 200-day moving average (MA) of $38.64 and subsequent resistance at its 50-day MA of $40.16.

SmarTrend recommended that its subscribers protect gains by selling shares of Apartment Invest on December 6th, 2017 by issuing a Downtrend alert when the shares were trading at $43.49. Since that call, shares of Apartment Invest have fallen 12.6%. 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 apartment invest

Ticker(s): AIV