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Possible Bullish Inside Day Candle Pattern Detected for Kite Realty Group Trust (NYSE:KRG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kite Realty Group Trust (NYSE:KRG) based on the price action in the company's shares. Today's price range of $20.15 and $20.50 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 Kite Realty Group Trust may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Kite Realty Group Trust share prices have moved between a 52-week high of $30.45 and a 52-week low of $19.91 and are now trading 2% above that low price at $20.36 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Potential upside of 34.6% exists for Kite Realty Group Trust, based on a current level of $20.36 and analysts' average consensus price target of $27.40. The stock should run into initial resistance at its 200-day moving average (MA) of $26.05 and subsequent resistance at its 50-day MA of $27.55.

Kite Realty Group Trust is a full-service, vertically integrated real estate company focused primarily on the development, construction, acquisition, ownership and operation of neighborhood and community shopping centers. The company own properties in Indiana, Florida, Texas, Washington, Oregon, New Jersey, Illinois and Georgia.

SmarTrend recommended that its subscribers protect gains by selling shares of Kite Realty Group Trust on September 12th, 2016 by issuing a Downtrend alert when the shares were trading at $28.16. Since that call, shares of Kite Realty Group Trust have fallen 28.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle kite realty group trust

Ticker(s): KRG