Possible Bullish Inside Day Candle Pattern Detected for Highwoods Properties (NYSE:HIW)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Highwoods Properties (NYSE:HIW) based on the price action in the company's shares. Yesterday's price range of $45.92 and $46.92 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 Highwoods 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.
Highwoods Properties, Inc., with its operating partnership and subsidiaries, develops, manages, leases and acquires suburban office and industrial properties. Highwoods has expanded into markets throughout the southeastern and midwestern United States.
There is potential upside of 3.6% for shares of Highwoods Properties based on a current price of $46.78 and an average consensus analyst price target of $48.45. The stock should find initial support at its 50-day moving average (MA) of $46.70 and further support at its 200-day MA of $42.85.
In the past 52 weeks, Highwoods Properties share prices have been bracketed by a low of $36.57 and a high of $56.23 and closed yesterday at $46.78, 28% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of Highwoods Properties on October 6th, 2016 by issuing a Downtrend alert when the shares were trading at $48.82. Since that call, shares of Highwoods Properties have fallen 4.2%. 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 highwoods properties