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

By David Diaz

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 $10.32 and $10.44 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.

Potential upside of 14.3% exists for Cousins Properties, based on a current level of $10.44 and analysts' average consensus price target of $11.94. The stock should discover initial support at its 50-day moving average (MA) of $10.02 and subsequent support at its 200-day MA of $9.53.

In the past 52 weeks, shares of Cousins Properties have traded between a low of $7.53 and a high of $11.07 and are now at $10.44, which is 39% above that low price. 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 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.

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 15.6%. 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