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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 $51.07 and $51.40 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 share prices have moved between a 52-week high of $53.13 and a 52-week low of $33.62 and are now trading 52% above that low price at $51.19 per share. 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%.

Based on a current price of $51.19, National Retail Properties is currently 20.4% above its average consensus analyst price target of $40.73. The stock should discover initial support at its 50-day moving average (MA) of $45.25 and subsequent support at its 200-day MA of $40.16.

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

SmarTrend recommended that subscribers consider buying shares of National Retail Properties on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.73. Since that recommendation, shares of National Retail Properties have risen 9.1%. We continue to monitor NNN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle national retail properties

Ticker(s): NNN