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Possible Bullish Inside Day Candle Pattern Detected for Store Capital (NYSE:STOR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Store Capital (NYSE:STOR) based on the price action in the company's shares. Yesterday's price range of $24.71 and $24.96 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 Store Capital may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 7.6% for shares of Store Capital based on a current price of $24.81 and an average consensus analyst price target of $26.70. Store Capital shares should encounter resistance at the 50-day moving average (MA) of $25.58 and support at its 200-day MA of $23.11.

STORE Capital Corporation provides real estate investment trust services. The Company invests in single-tenant real estate such as chain restaurants, supermarkets, health clubs, education, retail, service, and distribution facilities. STORE Capital operates in the United States.

In the past 52 weeks, Store Capital share prices have been bracketed by a low of $19.65 and a high of $31.44 and closed yesterday at $24.81, 26% above that low price. The 200-day and 50-day moving averages have moved 0.46% higher and 0.36% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Store Capital on June 26th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.68. Since that recommendation, shares of Store Capital have risen 8.9%. We continue to monitor STOR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle store capital

Ticker(s): STOR