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Possible Bullish Inside Day Candle Pattern Detected for Cousins Prop (NYSE:CUZ)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cousins Prop (NYSE:CUZ) based on the price action in the company's shares. Yesterday's price range of $8.39 and $8.52 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 Cousins Prop may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Cousins Prop has overhead space with shares priced $8.45, or 8.0% below the average consensus analyst price target of $9.19. The stock should run into initial resistance at its 200-day moving average (MA) of $9.53 and subsequent resistance at its 50-day MA of $10.02.

Over the past year, Cousins Prop has traded in a range of $7.09 to $11.40 and closed yesterday at $8.45, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has remained constant.

Cousins Properties, Inc. is a real estate investment trust. The Company derives its revenues from the acquisition, financing, development, management and leasing of commercial properties. These retail and office properties are concentrated in the Southern United States.

SmarTrend is tracking the current trend status for Cousins Prop and will alert subscribers who have CUZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cousins prop

Ticker(s): CUZ