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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish 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 $66.36 and $66.78 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 Vornado Rlty Tst may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Vornado Rlty Tst share prices have moved between a 52-week high of $70.54 and a 52-week low of $58.60 and closed yesterday at 13% above that low price at $66.17 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

There is potential upside of 18.5% for shares of Vornado Rlty Tst based on a current price of $66.17 and an average consensus analyst price target of $78.42. Vornado Rlty Tst shares have support at the 50-day moving average (MA) of $65.34 and additional support at the 200-day MA of $65.00.

Vornado Realty Trust is a fully-integrated real estate investment trust. The Trust owns, manages, and leases office properties in New York City, Chicago and San Francisco.

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: bearish am inside day candle vornado rlty tst

Ticker(s): VNO