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

By James Quinn

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 $40.17 and $40.58 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) has potential upside of 20.0% based on a current price of $40.51 and analysts' consensus price target of $48.62. The stock should hit resistance at its 50-day moving average (MA) of $45.25, as well as support at its 200-day MA of $40.16.

In the past 52 weeks, shares of National Retail Properties have traded between a low of $33.62 and a high of $53.60 and are now at $40.51, which is 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.2%.

SmarTrend is monitoring the recent change of momentum in National Retail Properties. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of National Retail Properties in search of a potential trend change.

Keywords: bullish inside day candle national retail properties

Ticker(s): NNN