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Possible Bullish Inside Day Candle Pattern Detected for Ggp Inc (NYSE:GGP)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ggp Inc (NYSE:GGP) based on the price action in the company's shares. Yesterday's price range of $21.18 and $21.55 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 Ggp Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

GGP Inc. operates as a retail real estate company. The Company offers real estate owning, managing, leasing, and redeveloping solutions. GGP serves customers throughout the United States.

Potential upside of 20.4% exists for Ggp Inc, based on a current level of $21.28 and analysts' average consensus price target of $25.62. The stock should find initial resistance at its 200-day moving average (MA) of $27.16 and further resistance at its 50-day MA of $28.83.

In the past 52 weeks, Ggp Inc share prices have been bracketed by a low of $18.83 and a high of $32.10 and closed yesterday at $21.28, 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

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

Keywords: bullish am inside day candle ggp inc

Ticker(s): GGP