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Possible Bullish Inside Day Candle Pattern Detected for Vornado Rlty Tst (NYSE:VNO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vornado Rlty Tst (NYSE:VNO) based on the price action in the company's shares. Yesterday's price range of $76.91 and $77.35 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 Vornado Rlty Tst may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vornado Realty Trust is a fully-integrated real estate investment trust. The Trust owns, manages, and leases office properties in New York City, Washington, DC, and California. Vornado Realty Trust also owns retail properties in Washington, DC and Puerto Rico.

In the past 52 weeks, shares of Vornado Rlty Tst have traded between a low of $71.89 and a high of $111.72 and closed yesterday at $77.13, which is 7% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Potential upside of 11.3% exists for Vornado Rlty Tst, based on a current level of $77.13 and analysts' average consensus price target of $85.82. Vornado Rlty Tst shares should first meet resistance at the 50-day moving average (MA) of $93.31 and find additional resistance at the 200-day MA of $93.58.

SmarTrend is tracking the current trend status for Vornado Rlty Tst and will alert subscribers who have VNO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle vornado rlty tst

Ticker(s): VNO