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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Store Capital (NYSE:STOR) based on the price action in the company's shares. Today's price range of $15.50 and $15.94 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. Owners of Store Capital may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Store Capital has traded in a range of $13.00 to $40.96 and is now at $15.66, 20% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.6% while the 200-day MA has slid 0.8%.

There is potential upside of 76.7% for shares of Store Capital based on a current price of $15.66 and an average consensus analyst price target of $27.67. The stock should run into initial resistance at its 50-day moving average (MA) of $29.71 and subsequent resistance at its 200-day MA of $35.26.

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.

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

Keywords: bearish inside day candle store capital

Ticker(s): STOR