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Possible Bearish Inside Day Candle Pattern Detected for Urstadt Biddle-A (NYSE:UBA)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Urstadt Biddle-A (NYSE:UBA) based on the price action in the company's shares. Yesterday's price range of $14.20 and $14.98 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 Urstadt Biddle-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Urstadt Biddle Properties Inc. is a real estate investment trust. The Company acquires, owns, redevelops, and manages retail shopping centers and real estate properties. Urstadt Biddle Properties serves customers in the States of New York and Connecticut.

In the past 52 weeks, shares of Urstadt Biddle-A have traded between a low of $10.05 and a high of $24.84 and closed yesterday at $14.61, which is 45% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 4.7%.

Potential upside of 41.5% exists for Urstadt Biddle-A, based on a current level of $14.61 and analysts' average consensus price target of $20.67. Urstadt Biddle-A shares should first meet resistance at the 50-day moving average (MA) of $15.20 and find additional resistance at the 200-day MA of $21.18.

SmarTrend is tracking the current trend status for Urstadt Biddle-A and will alert subscribers who have UBA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle urstadt biddle-a

Ticker(s): UBA