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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. Yesterday's price range of $26.83 and $27.00 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 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 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.

In the past 52 weeks, Kite Realty Group Trust share prices have been bracketed by a low of $22.82 and a high of $30.00 and closed yesterday at $26.87, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Kite Realty Group Trust (NYSE:KRG) has potential upside of 10.9% based on a current price of $26.87 and analysts' consensus price target of $29.80. The stock should hit resistance at its 50-day moving average (MA) of $27.55, as well as support at its 200-day MA of $26.05.

SmarTrend is tracking the current trend status for Kite Realty Group Trust and will alert subscribers who have KRG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle kite realty group trust

Ticker(s): KRG