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Possible Bullish Inside Day Candle Pattern Detected for Colony Capital-A (:CLNY)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Colony Capital-A (:CLNY) based on the price action in the company's shares. Yesterday's price range of $4.95 and $5.04 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 Colony Capital-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.

There is potential upside of 42.6% for shares of Colony Capital-A based on a current price of $5.03 and an average consensus analyst price target of $7.17. The stock should find initial resistance at its 200-day moving average (MA) of $5.34 and further resistance at its 50-day MA of $5.48.

In the past 52 weeks, Colony Capital-A share prices have been bracketed by a low of $4.32 and a high of $6.28 and closed yesterday at $5.03, 16% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Colony Capital, Inc. is a real estate finance company. The Company acquires, originates, and manages a diversified portfolio of real estate related debt instruments. Colony Capital serves customers globally.

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

Keywords: bullish am inside day candle :clny colony capital-a

Ticker(s): CLNY