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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cousins Properties (NYSE:CUZ) based on the price action in the company's shares. Today's price range of $10.45 and $10.56 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 Cousins 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.

In the past 52 weeks, Cousins Properties share prices have been bracketed by a low of $7.53 and a high of $11.07 and are now at $10.51, 40% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

Cousins Properties, Inc. is a real estate investment trust that 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.

Cousins Properties has overhead space with shares priced $10.51, or 12.0% below the average consensus analyst price target of $11.94. The stock should find initial support at its 50-day moving average (MA) of $10.02 and further support at its 200-day MA of $9.53.

SmarTrend recommended that subscribers consider buying shares of Cousins Properties on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.91. Since that recommendation, shares of Cousins Properties have risen 17.1%. We continue to monitor CUZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle cousins properties

Ticker(s): CUZ