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Possible Bullish Inside Day Candle Pattern Detected for Vereit Inc (NYSE:VER)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vereit Inc (NYSE:VER) based on the price action in the company's shares. Yesterday's price range of $8.01 and $8.09 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 Vereit Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vereit Inc has overhead space with shares priced $8.07, or 0.3% below the average consensus analyst price target of $8.09. The stock should hit resistance at its 50-day moving average (MA) of $8.22, as well as support at its 200-day MA of $7.72.

VEREIT, Inc. operates as a real estate investment trust. The Company owns, acquires, manages, leases, and finances a diversified portfolio of retail, restaurant, office, and industrial real estate assets. VEREIT serves customers in the United States.

Vereit Inc share prices have moved between a 52-week high of $8.56 and a 52-week low of $6.52 and closed yesterday at 24% above that low price at $8.07 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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

Keywords: bullish am inside day candle vereit inc

Ticker(s): VER