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Possible Bullish Inside Day Candle Pattern Detected for Apartment Investment & Management (NYSE:AIV)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Apartment Investment & Management (NYSE:AIV) based on the price action in the company's shares. Today's price range of $39.82 and $40.21 is within yesterday'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 Investment & Management 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 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.

In the past 52 weeks, Apartment Investment & Management share prices have been bracketed by a low of $34.71 and a high of $43.62 and are now at $40.01, 15% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 1.12% higher over the past week, respectively.

There is potential upside of 4.9% for shares of Apartment Investment & Management based on a current price of $40.01 and an average consensus analyst price target of $41.99. The stock should find resistance at its 50-day moving average (MA) of $40.16, as well as support at its 200-day MA of $38.64.

SmarTrend is monitoring the recent change of momentum in Apartment Investment & Management. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Apartment Investment & Management in search of a potential trend change.

Keywords: bullish inside day candle apartment investment & management

Ticker(s): AIV