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Possible Bullish Inside Day Candle Pattern Detected for Regency Centers (NYSE:REG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Regency Centers (NYSE:REG) based on the price action in the company's shares. Today's price range of $68.50 and $69.23 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 Regency Centers may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Regency Centers Corporation is a self-administered and self-managed real estate investment trust that owns and operates grocery anchored neighborhood retail centers. The Company currently owns and operates properties in various states located throughout the United States.

There is potential upside of 1.2% for shares of Regency Centers based on a current price of $69.17 and an average consensus analyst price target of $69.97. Regency Centers shares should encounter resistance at the 50-day moving average (MA) of $74.19 and support at its 200-day MA of $67.82.

Over the past year, Regency Centers has traded in a range of $55.79 to $85.35 and is now at $69.17, 24% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.

SmarTrend is tracking the current trend status for Regency Centers and will alert subscribers who have REG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle regency centers

Ticker(s): REG