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Possible Bullish Inside Day Candle Pattern Detected for Kimco Realty (NYSE:KIM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kimco Realty (NYSE:KIM) based on the price action in the company's shares. Today's price range of $21.71 and $21.93 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 Kimco Realty may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Kimco Realty share prices have moved between a 52-week high of $32.24 and a 52-week low of $21.58 and are now trading 1% above that low price at $21.77 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 0.3%.

There is potential upside of 27.6% for shares of Kimco Realty based on a current price of $21.77 and an average consensus analyst price target of $27.78. Kimco Realty shares should first meet resistance at the 200-day moving average (MA) of $26.14 and find additional resistance at the 50-day MA of $28.15.

Kimco Realty Corporation is a real estate investment trust (REIT). The Company owns and operates neighborhood and community shopping centers with locations in multiple states as well as Puerto Rico, Canada, Mexico, Chile, Brazil and Peru. The Company also provides management services for shopping centers owned by affiliated entities and various real estate joint ventures.

SmarTrend recommended that its subscribers protect gains by selling shares of Kimco Realty on August 16th, 2016 by issuing a Downtrend alert when the shares were trading at $29.98. Since that call, shares of Kimco Realty have fallen 28.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle kimco realty

Ticker(s): KIM