• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Infrareit Inc (NYSE:HIFR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Infrareit Inc (NYSE:HIFR) based on the price action in the company's shares. Yesterday's price range of $19.61 and $19.93 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 Infrareit 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.

Infrareit Inc (NYSE:HIFR) has potential upside of 2.1% based on a current price of $19.84 and analysts' consensus price target of $20.25. The stock should find resistance at its 200-day moving average (MA) of $21.95, as well as support at its 50-day MA of $17.02.

InfraREIT, Inc. operates as a real estate investment trust. The Company owns electricity transmission and distribution assets. InfraREIT serves customers in the State of Texas.

Over the past year, Infrareit Inc has traded in a range of $14.59 to $23.22 and closed yesterday at $19.84, 36% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 1.6%.

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

Keywords: bullish am inside day candle infrareit inc

Ticker(s): HIFR