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

By Shiri Gupta

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. Yesterday's price range of $18.43 and $18.62 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 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.

In the past 52 weeks, Kimco Realty share prices have been bracketed by a low of $14.29 and a high of $19.43 and closed yesterday at $18.52, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

Kimco Realty Corporation is a real estate investment trust (REIT). The Company owns and operates open-air shopping centers with multiple locations in the United States and Puerto Rico. Kimco Realty owns properties which are usually anchored by a supermarket and big box store that sells day-to-day necessities.

Kimco Realty (NYSE:KIM) defies analysts with a current price ($18.52) 11.2% above its average consensus price target of $16.45. The stock should hit resistance at its 50-day moving average (MA) of $18.61, as well as support at its 200-day MA of $17.39.

SmarTrend recommended that subscribers consider buying shares of Kimco Realty on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.03. Since that recommendation, shares of Kimco Realty have risen 14.9%. We continue to monitor KIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle kimco realty

Ticker(s): KIM