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

By James Quinn

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 $20.15 and $20.51 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 (NYSE:KRG) has potential upside of 35.0% based on a current price of $20.29 and analysts' consensus price target of $27.40. The stock should find initial resistance at its 200-day moving average (MA) of $26.05 and further 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.

Over the past year, Kite Realty Group Trust has traded in a range of $19.91 to $30.45 and closed yesterday at $20.29, 2% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

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 am inside day candle kite realty group trust

Ticker(s): KRG