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Possible Bullish Inside Day Candle Pattern Detected for National Retail Properties (NYSE:NNN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in National Retail Properties (NYSE:NNN) based on the price action in the company's shares. Today's price range of $41.26 and $42.00 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 National Retail Properties may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

National Retail Properties Inc. is a real estate investment trust that acquires, develops, and manages retail properties subject to long-term net leases.

National Retail Properties (NYSE:NNN) is currently priced 1.9% above its average consensus analyst price target of $40.73. National Retail Properties shares should encounter resistance at the 50-day moving average (MA) of $45.25 and support at its 200-day MA of $40.16.

National Retail Properties share prices have moved between a 52-week high of $53.60 and a 52-week low of $33.62 and are now trading 23% above that low price at $41.51 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of National Retail Properties on October 4th, 2016 by issuing a Downtrend alert when the shares were trading at $49.36. Since that call, shares of National Retail Properties have fallen 17.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle national retail properties

Ticker(s): NNN