Possible Bullish Inside Day Candle Pattern Detected for Equity One (NYSE:EQY)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Equity One (NYSE:EQY) based on the price action in the company's shares. Today's price range of $32.09 and $32.26 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 Equity One may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Equity One (NYSE:EQY) is currently priced 14.7% above its average consensus analyst price target of $27.50. The stock should discover initial support at its 50-day moving average (MA) of $28.27 and subsequent support at its 200-day MA of $26.45.
Equity One share prices have moved between a 52-week high of $32.56 and a 52-week low of $22.52 and are now trading 43% above that low price at $32.24 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.
Equity One, Inc. is a self-administered, self-managed real estate investment trust. The Trust principally acquires, renovates, develops, and manages community and neighborhood shopping centers anchored by national and regional supermarket chains. Equity One's portfolio currently consists of properties primarily located in metropolitan areas of Florida and Texas.
SmarTrend recommended that subscribers consider buying shares of Equity One on June 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.19. Since that recommendation, shares of Equity One have risen 6.2%. We continue to monitor EQY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish inside day candle Equity One