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Possible Bullish Inside Day Candle Pattern Detected for CBL & Associates Properties (NYSE:CBL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in CBL & Associates Properties (NYSE:CBL) based on the price action in the company's shares. Today's price range of $11.69 and $11.87 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 CBL & Associates Properties may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

CBL & Associates Properties, Inc. is a self managed, self administered real estate investment trust. The Company owns regional shopping malls and community shopping centers in the United States.

In the past 52 weeks, CBL & Associates Properties share prices have been bracketed by a low of $9.37 and a high of $19.46 and are now at $11.75, 25% above that low price. The 200-day and 50-day moving averages have moved 0.84% lower and 1.62% higher over the past week, respectively.

CBL & Associates Properties (NYSE:CBL) has potential upside of 38.5% based on a current price of $11.75 and analysts' consensus price target of $16.27. The stock should run into initial resistance at its 50-day moving average (MA) of $11.81 and subsequent resistance at its 200-day MA of $13.21.

SmarTrend is tracking the current trend status for CBL & Associates Properties and will alert subscribers who have CBL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle cbl & associates properties

Ticker(s): CBL