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Possible Bearish Inside Day Candle Pattern Detected for Kimco Realty (NYSE:KIM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kimco Realty (NYSE:KIM) based on the price action in the company's shares. Yesterday's price range of $19.85 and $19.97 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. Owners of Kimco Realty may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $19.83, Kimco Realty is currently 17.0% above its average consensus analyst price target of $16.45. The stock should find resistance at its 50-day moving average (MA) of $20.96, as well as support at its 200-day MA of $19.36.

In the past 52 weeks, shares of Kimco Realty have traded between a low of $14.86 and a high of $21.86 and closed yesterday at $19.83, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Kimco Realty Corporation is a real estate investment trust (REIT). The Company owns and operates open-air shopping centers with multiple locations in the United States and Puerto Rico. Kimco Realty owns properties which are usually anchored by a supermarket and big box store that sells day-to-day necessities.

SmarTrend is monitoring the recent change of momentum in Kimco Realty. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kimco Realty in search of a potential trend change.

Keywords: bearish am inside day candle kimco realty

Ticker(s): KIM