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Possible Bullish Inside Day Candle Pattern Detected for Federal Realty Investment Trust (NYSE:FRT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Federal Realty Investment Trust (NYSE:FRT) based on the price action in the company's shares. Yesterday's price range of $154.66 and $158.71 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 Federal Realty Investment Trust may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Federal Realty Investment Trust is a self-administered real estate investment trust. The Company specializes in the ownership, management, development, and redevelopment of prime community and neighborhood shopping centers.

Based on a current price of $158.06, Federal Realty Investment Trust is currently 7.3% above its average consensus analyst price target of $146.57. The stock should find initial support at its 50-day moving average (MA) of $153.57 and further support at its 200-day MA of $144.58.

In the past 52 weeks, shares of Federal Realty Investment Trust have traded between a low of $124.87 and a high of $171.08 and closed yesterday at $158.06, which is 27% above that low price. The 200-day and 50-day moving averages have moved 0.27% higher and 0.45% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Federal Realty Investment Trust on August 8th, 2016 by issuing a Downtrend alert when the shares were trading at $163.11. Since that call, shares of Federal Realty Investment Trust have fallen 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle federal realty investment trust

Ticker(s): FRT