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Possible Bullish Inside Day Candle Pattern Detected for Cedar Realty Tru (NYSE:CDR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cedar Realty Tru (NYSE:CDR) based on the price action in the company's shares. Yesterday's price range of $0.58 and $0.69 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 Cedar Realty Tru may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Cedar Realty Tru has traded in a range of $0.10 to $3.69 and closed yesterday at $0.59, 491% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has declined 9.1%.

Cedar Realty Trust Inc. is a fully-integrated real estate investment trust. The Company's portfolio of primarily supermarket-anchored shopping centers straddles the Washington, DC to Boston corridor.

Potential upside of 745.9% exists for Cedar Realty Tru, based on a current level of $0.59 and analysts' average consensus price target of $5.00. Cedar Realty Tru shares should first meet resistance at the 50-day moving average (MA) of $2.08 and find additional resistance at the 200-day MA of $2.58.

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

Keywords: bullish am inside day candle cedar realty tru

Ticker(s): CDR